A point of bother for the markets is how the finance minister achieves a balance between supporting consumption and investment while keeping the fiscal house in order
PRO Only Highlights
- Quarterly performance largely backed by improved realisations
- Medium-term triggers China plus and protectionist measures for tyre industry
- Valuations not inexpensive; but improved medium-term outlook
- Quarterly performance largely backed by improved realisations
- Medium-term triggers China plus and protectionist measures for tyre industry
- Valuations not inexpensive; but improved medium-term outlook
Highlights Indian markets relatively outperformed in 2022, but looking nervous in 2023 so far Markets consolidating and wary before the Union Budget It remains to be seen how the FM sticks to fiscal discipline while supporting consumption and investment Fiscally imprudent budget may kill the recovery by pushing up yields Market valuation in absolute sense not too expensive compared to past budget times Markets had delivered positive return in the first week post budget whenever valuation had been less than 20x Indian equity markets have been...