There is a little room for interest rates to come down, said Mehrab Irani, General Manager-Investments at Tata Investment Corporation.

Speaking to CNBC-TV18's Prashant Nair and Ekta Batra, Irani said FY19 earnings of companies were mainly in-line with analyst expectations and for certain sectors, some stocks had done good.

Irani said that topline growth has been almost 15 percent, earnings before interest, taxes, depreciation, and amortisation (EBITDA) growth around 9.9 percent, and EBITDA margin came at 17.3 percent, which was around 60 basis points year-on-year fall for the companies. However, the bottomline quarter is also around 14.2 percent.

According to Irani, current account deficit may still widen to 2.2-2.5 percentage, because of raise in repo rate to 6.25 percent by RBI, strengthening of dollar, rising fuel prices, consumption story remaining strong in the country and the trade war happening between US and China.

Irani further added that inflation in India has again started rising and chances of it coming down are quite minimal just now.

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