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We're in the sell on a rise camp due to weak growth outlook: S Mukherjee

Companies have started talking about a revival, but that is inevitable after a hard lockdown, he says

saion mukherjee
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Earnings growth for FY21 is likely to be low single-digit at best, or even lower, says Saion Mukherjee

Puneet Wadhwa New Delhi
Developments in the global markets and a steady rise in Covid-19 cases kept the Indian indices choppy last week. SAION MUKHERJEE, India Equity Strategist at Nomura, tells Puneet Wadhwa that despite adverse macro, there are stock-specific opportunities across market-caps that investors should consider. Edited excerpts:
 
The markets have been unable to sustain at higher levels. Do you see lower levels ahead?
 
GAfter an intense foreign institutional investor (FII) sell-off in March 2020, some sanity is back. The recent rally has not been supported by fundamentals and earnings. The earnings cut has been intense, as analysts have reduced FY21/FY22 earnings by

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