LIC’s initial public offering (IPO), union budget 2022 and state elections will determine the market direction, said Gautam Trivedi, co-founder and managing partner of Nepean Capital, on Thursday, adding that Q3FY22 results from TCS and Infosys were outstanding.

He said, “We have got 4 major events unfolding over the next 2 months starting with earnings cycle (Q3FY22), the LIC IPO, the annual budget and then the results of the state elections. So the next two months are going to be very crucial to determine where this market goes.”

Also Read: TCS says attrition likely to stabilise in coming quarters; growth momentum to continue

Talking about earnings, Trivedi said that the results announced yesterday, January 12, by TCS, Infosys and Wipro were outstanding not just in terms of revenue guidance but also in terms of hiring.

Also Read: Budget 2022: MoRTH secy expects 15-30% increase in capex and more reforms in infra projects

On the union budget, he said that the tax rate should be revised for people with an income of Rs 50 lakh. He said, “Consumption does need a boost. I do not see them necessarily looking at lowering GST that had a good run over the last 6-7 months. So, reducing the personal rate of income tax will have a significant impact on consumption.”

Also Read: Budget 2022: Income Tax Calculator

For more details, watch the video