Capex, credit growth confluence positive for India: BofA Securities
Capex and credit growth confluence is positive for the Indian economy and equity market, said Amish Shah, India equity strategist at Bank of America (BofA) Securities.
Capex and credit growth confluence is positive for the Indian economy and equity market, said Amish Shah, India equity strategist at Bank of America (BofA) Securities.
Speaking in an interview to CNBC-TV18, he said, “India is likely to see several multiyear upcycle for capex, real estate and credit growth and a confluence of these cycles coming together is positive for the economy and hence market.”
BofA Securities, said Shah, expects that India will do USD 400 billion of long-term capex, over a decade, to meet emission norms.
Also Read: Consumer psyche gripped by fear; need stimulus for 12 months to build demand: Raamdeo Agrawal
He added that India stacks up very well versus other markets with regard to earnings growth. He said, “India’s GDP growth and earnings growth, in FY23, are going to be robust at 8.3 percent and 24 percent respectively, which we think will justify India’s premium valuation versus emerging markets.”
For more details, watch the accompanying video
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Mark Mobius reveals how markets will react if NDA wins 400+ Lok Sabha seats
May 15, 2024 8:09 PM
Wine shops and bars to remain shut for 4 days in Mumbai in 4 weeks, check details
May 15, 2024 7:52 PM
INDIA bloc will win majority seats in Bihar, says Tejashwi Yadav
May 15, 2024 4:20 PM