Nirmal Jain, Chairman and CEO of IIFL Finance sees December quarter earnings as the next big trigger for financial services firm.

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“People will see the momentum in the recovery and the earnings. That can be a very good trigger because still a lot of foreign money can come into the market,” he told CNBC-TV18.

“Things are recovering fast and interest rates are heading down, liquidity is benign that will allow banks to make some margin in their portfolio. More importantly the outlook is improving,” he said.

“The government has came up with several schemes, all the steps have helped. Most of the large companies would be out of the real danger or threat, liquidity has eased and credit demand also has picked up. Collection efficiency has been improving month after month from May or June and in most of the businesses it is close to 90 percent, which is fairly good,” Jain said.

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(Edited by : Santosh Nair)

First Published:Nov 12, 2020 1:54 PM IST