Neelkanth Mishra, MD, co-head of Asia Pacific strategy and India equity strategist at Credit Suisse, on Thursday said that the froth in the market has not all gone. He said that India has a lot of tailwinds, but one needs to be cautious globally.

“The frothiness of the market was very high and I do not think all of that has unwound yet. So that’s something I would stay cautious on,” he said.

Also Read: India great long-term growth story; cyclically better positioned than most Asian markets: Credit Suisse

He also said that FY24 EPS could rise by 5 percent hereon.

On autos, he expects 4-wheelers to benefit from discretionary demand.

Also Read: Lower crude demand and higher spot price trend negative; CGD cos may be impacted: Credit Suisse

According to him, slowdowns in IT and pharma are reversing, but housing construction will pick up.

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First Published:Dec 9, 2021 5:15 PM IST