Mukherjea said he was not too worried about the ongoing global sell off, because India’s strong underlying fundamentals would help it bounceback quickly
It is still early days of an economic recovery, but an upturn is definitely underway, feels Saurabh Mukherjea of Ambit Capital.
In an interview to CNBC-TV18, Mukherjea said the big picture was encouraging and his firm remained “comfortable buyers” of the India story.
“The economy is recovering, policy making is happening in full throttle,” he said.
He said he was not too worried about the ongoing global sell off, because India’s strong underlying fundamentals would help it bounceback quickly.
He expects the Budget session of Parliament to be a much more productive one than the Winter session, with 4 important ordinances likely to become law.
Mukherjea said he did not expect the government to take up land reforms so soon. By doing so, it has sent out a powerful signal to India Inc about its intention to push key reforms.
Mukherjea expects the GST Bill to be passed in at least one House of the Parliament in the Budget session.
He says up to a 25 percent upswing in utility stocks is not unrealistic as the government is pushing power sector reforms had. By liberalizing the coal sector, around 300-400 million tonnes of extra coal will be produced over the next 2-3 years, which will be a big boost to the power sector.
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Interview transcript to follow