Probability of 10-12% return on Nifty over 12 months: Mahesh Patil

He says, the political uncertainty in Europe will also drive markets in the short term

MAHESH PATIL, co-chief investment officer, Aditya Birla Sun Life Asset Management Co, spoke to Ashley Coutinho on the economy and the share market. Edited excerpts:

What is the outlook for the year ahead?

In the short term, (stock) market participants would be keen to see how the inflation-interest rate dynamics play out. Brent crude oil's price was close to $80/bbl before coming off and it is important to see how the government reacts to managing the price at the pump. The monsoon is expected to be normal this year, which should give much relief to the rural economy. In a couple of