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Rupee stability alone may not bring foreign investors back to India: Ambit's Dhiraj Agarwal
Dhiraj Agarwal, Managing Director of Ambit Investment Managers, expects rupee stabilisation to slow foreign investor outflows but believes sustained FII inflows will require stronger earnings growth and economic momentum. Agarwal also cautioned that higher inflation forecasts, lower GDP projections and elevated crude oil prices could keep investors focused on macroeconomic risks.
Prashant Jain: India resilient to oil shock, sees above-average returns from current levels
Prashant Jain, Founder & CIO of 3P Investment Managers, is more comfortable with largecaps. He believes small and midcaps have run ahead of fundamentals over the past couple of years, and even after the correction, valuations are not compelling at a category level.
Where are the Indian markets headed? Here's a bull case Vs bear case scenario
Brokerages remain divided on India’s market outlook amid global uncertainties. Jefferies, ICICI Prudential AMC and 3P Investment Managers are positive on India, driven by improved valuations, limited earnings downside and supportive domestic flows. They highlight attractive Nifty valuations, favourable allocation signals and recent market correction as key reasons to increase exposure, with a preference for sectors like banks and pharma and a gradual approach to adding equities. On the other hand, Nomura, Goldman Sachs and UBS remain cautious, citing rising oil prices, weak foreign flows and global risks that could weigh on growth and market returns in the near term.
Market View | 8–10% correction likely from here, says Ambit’s Dhiraj Agarwal
Ambit Investment Managers’ Managing Director Dhiraj Agarwal says emerging markets are in a risk-off phase due to Middle East tensions, a stronger dollar and rising crude prices. India, highly dependent on oil imports, is particularly vulnerable. He sees a very high probability of a 10% market correction, with a deeper 15–20% fall possible if crude stays elevated. Agarwal remains cautious on IT due to AI disruption and expects consumer staples to face long-term valuation derating.
MC Exclusive: AI's Cyclical Winners Won't Last Forever. India's Growth Story Will: Prashant Jain
The 3P Investment Managers founder says the oil scare was always temporary, domestic ownership has made Indian markets structurally stronger, and large-cap stocks—especially banks—remain undervalued despite the recent rally.