I don’t think this a recession that is going to be over quickly. What we have to look forward to is more government stimulus, more deficit spending, more money printing, and ultimately it is not unquestionably a bullish thing for equities prices especially when you ultimately are going to rising inflation as a result of these policies.

One would think that the dollar would be under pressure with the Fed in full easing mode, fiscal stimulus, deficit, and so on and so forth. But the problem is that it is not just the US that has a global debt problem today, it is the whole world. So we are in what we call a globally synchronized debasement and every country in the world is forced to simultaneously trying to devalue their currency in order to deal with their own domestic debt problems.

Kevin C Smith, CFA- Founder, CEO & CIO, Crescat Capital

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The Indian market is surprisingly robust. I expect to see a significant sequential improvement in the Indian market. We don’t dislike the Indian market. It’s not our major ‘overweight’ within the emerging markets either – that’s China. China may grow by 2 percent in 2020, 8 percent in 2021 and 5 percent in 2022.

Mark Matthews, MD, Bank Julius Baer & Co

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Markets should be focused on death rate than rise in daily cases. Relatively, the death rates have been declining across the globe. India may outperform other emerging economies. The US market is not worried about the election but waiting for stimulus post-election.

Simon Powell, Global Head of Thematic Research at Jefferies

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HDFC Bank and Kotak Mahindra Bank are the safe stocks to own. They are secular growth stories and if you want safety with growth then HDFC Bank and Kotak Mahindra Bank are a must-have in your portfolio. Reports of Kotak Mahindra Bank and IndusInd Bank deal were a complete rumour. A few weeks ago, Hinduja Group said that they wanted to increase the stake in IndusInd Bank. So I don’t think that when you have such a strong promoter in IndusInd Bank they would like to dilute their holdings and get merged with Kotak and to an extent lose their identity.

Dipan Mehta, Director, Elixir Equities

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India will benefit from the pent-up demand this quarter. The key thing will be controlling the virus and dishing out more stimulus. We think both those things are going to happen and so we do have a bit better gross domestic product (GDP) growth forecast, we have minus 9 percent GDP growth for this year and then close to 10 percent positive growth for next year.

Rob Subbaraman, Head of Global Macro Research & Co-Head of Global Markets Research at Nomura

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In our case at least NPA number would be just about half a percent of the total. It is not all contracts which were non-classified and plus we had made matching provision as though they were NPA even though they were not classified NPA. Earlier crop, farm cash flow was pretty good and the rural sentiments were positive, we are seeing collections from moratorium accounts. Our collection efficiency for the September month has been 90 percent plus, for the quarter has been 82 percent plus. So rural cash flows have held up pretty good.

Ramesh Iyer, Vice Chairman & Managing Director, Mahindra & Mahindra Financial.

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Our home, personal care and performance chemicals grew quarter-on-quarter (QoQ) over last year and also the first quarter of this year. We see focus on health and hygiene remaining forever I think. We are conscious of our health and this pandemic has brought this on the forefront. So we being in the products which focus on health and hygiene, we think that we are in times of accelerating growth in the future.

Sunil Chari, Promoter and MD at Rossari Biotech

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In festive months, we are seeing both luxury and premium malls doing much better. As things go, we feel that the footfall has reached 50 percent of previous levels. Sales, our anticipation is it should be 70-75 percent in this quarter. The food and beverage space was the most impacted as they declined to 45-50 percent of previous levels. The interesting part is that spend per footfall has risen drastically. It has gone up by 160-170 percent which means we are getting more out of every customer who is walking in because there is focused shopping, and focused dining.

Pushpa Bector, Executive Director, DLF Retail Malls

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We are 100 percent operational barring few stores which got closed down. Some of the stores lost their licenses, some had an issue with finances, and they are hardly 1-2 percent. As far as occupancy is concerned, we are close to 100 percent barring few which is not allowed by the government. Footfall is building up slowly and in terms of sales, there is very good growth.

Mukesh Kumar, CEO, Infiniti Mall

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Customers are shifting towards personal mobility and this trend continues. The retail sales are 25 percent more than last year and Navratri sales grew 25-30 percent, YoY. We have seen good bookings that augur well till Diwali. The demand for used and pre-owned vehicles has gone up and demand is outstripping supply in the replacement market.

Tarun Garg, Director-Sales, Marketing & Service, Hyundai

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Mass motorcycle segment sales are slower than expected. Compared to the entry-level segment which is 100cc segment, but 125cc and above have done much better and that because urban demand has also started coming in which was not supporting the auto sector earlier. The recovery in the medium and heavy commercial vehicle (M&HCV) to continue as the need for infra improves.

Nikunj Sanghi, Chairman of Automotive Skill Development Council

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Customers should understand that the government is paying for 6 months only and not for extended tenor. We may need to claim Rs 80-90 crore from the government.

YS Chakravarti, MD & CEO, Shriram City Union Finance

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PVC resin prices have moved sharply to Rs 1,140 per tonne due to supply disruptions. The normalized margin for PVC business is at 12-15 percent and pipes business at 8-10 percent. We have cash of around Rs 400 crore on the balance sheet. Don’t have a dividend or a buyback planned as of now.

Anil Whabi, Director-Finance, Finolex Industries

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If one is interested in buying Kotak Mahindra Bank, one should wait for the pullback in the stock. The stock remains one of the core picks along with HDFC Bank. Things are working in favour of tyre segment. The stock or a company management doing the right thing in tyre sector would be JK Tyres. I am ready to stick my next out and say that JK Tyres could possibly be the best in the overall tyre segment for the next one-three quarters.

Mehraboon J Irani of Gini Gems Consultants

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We expect growth in the second half of the year to be similar to the first half of FY21. 30 percent of our revenue comes from India, 30 percent from Europe, and remaining from the rest of the world. We have 7-8 percent market share in the dialysis segment. The company is on expansion mode and two plants will come on stream this year.

Himanshu Baid, Managing Director, Poly Medicure