Maintain a constructive view on Indian equities for 2021: Ashish Gumashta

With a successful breakthrough on the vaccine front, we seem to be moving closer to normalisation in a quarter's time, says Julius Baer India MD

The markets are already factoring in a healthy 25 per cent earnings CAGR over FY21-FY23, says ASHISH GUMASHTA, managing director & chief executive officer at Julius Baer India, in an interview with Puneet Wadhwa. Any disappointment on the earnings front, he says, may lead to market volatility in 2021. Edited excerpts:

What is your market outlook for 2021?

We continue to maintain a constructive view on Indian equities for 2021. With a successful breakthrough on the vaccine front, we seem to be moving closer to normalisation in a quarter’s time. The investment/capex cycle is also expected to pick up in 12-18 months