Anish Damania, CEO, JM Financial, says: “We will see markets doing much better, capital raise is becoming more prolific and investors will continue to doubt this and because investors are doubting this, there is room for appreciation. The key themes which we feel will dominate the India story will be in the manufacturing sector, finance sector, logistics and infra.”
Given the kind of backdrop that we are looking at, the fact that there will be triggers down the line with respect to the overall elections, the valuation picture for our own markets, where is India standing at the current juncture?
According to us, and we have been having this view for some time, we are on the throes of a mega bullish market lasting for several years, starting from 2020 to 2030. And I feel that this is the biggest bull run which we will see and which will be characterised by both stock markets doing very well and capital markets also doing extremely well. This is the time when India will require the funds, there will be a lot of activity and we feel that this is a time which we need to capitalise on.
A lot of macro factors are falling in place for India's growth story to be there. There is an expected election down the corner but if the BJP returns with a thumping majority, we will have an extended market, but that majority is not yet fully factored in the market today in my view.
In the runup to the election – be it the 2003 and 2004 election, 2014 or 2019 – markets tend to rally. Do you