Indian equity market anticipates substantial economic upmove; real estate, autos exciting: HSBC Global

Tushar Pradhan, CIO of HSBC Global Asset Management (India), on Thursday said that the market is anticipating a significant move in the economy.

“The market is anticipating a very significant move in the economy. The risk is where the delivery comes through and it will be important to see that which are the earnings growth stories, which will sustain no matter what happens to the news in between because obviously, such markets are very vulnerable to news, which could either be negative or positive in the short-term, but winners will be the ones which will hold on to those gains on the back of their earnings growth,” Pradhan said in an interview to CNBC-TV18.

On real estate space, he said, “There is a lot of steam in terms of where the residential property developers go from here. On the other hand, there’s scare on office property and that’s driven by the pandemic and the new rules regarding hybrid working model etc., so a lot of these developers, who have large real estate properties in the commercial, were under the weather because of that but distancing norm is creating another opportunity in terms of having a larger space both on residential as well as commercial due to the pandemic.”