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No one doubts India; rate cut lurking: Motilal Oswal

On the eve of 11th Motilal Oswal Investor Conference, Raamdeo Agrawal, Joint MD of Motilal Oswal Financial Services, said participation by over 100 companies reveal “total lack of fear” in India story.

On the eve of 11th Motilal Oswal Investor Conference, Raamdeo Agrawal, Joint MD of Motilal Oswal Financial Services, said participation by over 100 companies reveal “total lack of fear” in India story.

“There is no fear among retail or foreign investors; they may be away for macro reasons,” he said adding auto/auto ancillary companies are immensely benefitting from the China slowdown. “China cannot scare us.”

Asked if participants question the slow pace of rate cuts, Agrawal said that is not a big bother because everyone understands India is tackling a lot of uncertainties, and it is a big deal to keep the currency stable. “Broadly rate trajectory is looking lower.” It is commendable that RBI chief Raghuram Rajan insisted on banks passing the benefits given to them on to the customers, added Rajat Rajgharia. HDFC Bank has just done that and Dr Rajan may find it conducive enough to offer a Diwali gift.”

Agrawal remains optimist on India and advised that one must have faith in India and give time. Asked about the preferred picks, he Agrawal said he is looking at small list of companies and will present 35-40 new ideas at the conference.

Buy stories like oil marketing companies, banks, auto, auto ancillay will play a decisive role in India story.

The nature of participating FIIs are mostly long-only investors that too as a large teams, says Navin Agrawal, Director . Industry leaders like Vishal Sikka (Infosys), Chanda Kochchar (ICICI Bank) are key participants in the conference.

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