Correction of 8 to 10% to make the Indian market more attractive: Venugopal Garre de Bernstein
Bernstein managing director Venugopal Garre told CNBC-TV18 that a correction of another 8-10% correction would take the Indian market to a relatively more attractive zone. With the COVID scare now behind him, he expects a good recovery for the Indian economy.
“The main thought for us last year was that we had two episodes of COVID, the beginning of the year and the fag-end of the year: Delta and Omicron. This year, we don’t really see that as a challenge To that extent we have, again, a very favorable base and, more importantly, we believe that some of the consumer price inflation, of course, has also last year felt. Finally, if I were to characterize the overall size of the economy, at this point, in real terms, the last one or two quarters are only when we got over COVID,” he said.
“There is no scum in the economy to worry too much about. In that sense, we are still looking at 7% GDP growth this year. From a purely market perspective, my comment of a line would be that we still follow a vision of a limited market for a while given what is happening in the world, ”he adds.