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See Nifty at 9000 by Budget; 50 bps cut in Q1 2015: Ambit

Andrew Holland advises investors to stay away from IT at this point and says some of the commercial vehicle companies have huge debt and it might be advisable to ignore them for now.

The Nifty might inch toward 9000 by Budget if not before, is the word coming in from Andrew Holland, Ambit Investment Advisors. He says there is a lot of expectation from finance minister Arun Jaitley and most people believe that almost every sector will be a winner.

Despite the global concerns or issues, India seems favourably placed, he adds. However, according to him, the momentum of reforms needs to continue in India for the economy to keep growing.

He advises investors to stay away from IT at this point and says some of the commercial vehicle companies have huge debt and it might be advisable to ignore them for now.

He also believes that the Reserve Bank is likely to cut interest rates by 50 basis points in the first quarter of 2015.

Stay tuned for more…

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