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homemarket NewsBernstein expects Indian equity market to consolidate; says tremendous opportunity in edutech space

Bernstein expects Indian equity market to consolidate; says tremendous opportunity in edutech space

We are positive on the overall digital opportunity because we see this as the next 10-20 (years) future for India," Venugopal Garre, Managing Director, Bernstein, told CNBC-TV18.

By Latha Venkatesh | Sonia Shenoy | Surabhi Upadhyay Nov 18, 2021 4:12:24 PM IST (Published)

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Bernstein expects the Indian equity market to consolidate following the recent sharp upmove, Venugopal Garre, Managing Director, told CNBC-TV18.

“We are not calling for a big correction as yet. But directionally, how things might pan out is, this consolidation phase could last for a slightly longer period of time before we start to see the next upward resumption,” Garre said.

On new-age listings, he said, “The listing spree is not going to stop. We are going to see that intensify over the next 2-3 years. The way we look at a lot of these companies coming in is that we are positive on the overall digital opportunity because we see this as the next 10-20 (years) future for India, and the entire digital listings, the relevant one could account for more than 20 percent of the market a decade later.”

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