FY25 as weak-earnings year is gradually getting priced in: Chhaochharia

Chhaochharia highlighted that FY25's weak earnings growth is now being factored into market expectations

Even as many blame record foreign portfolio outflows for the market downturn, the real culprit is weak earnings amid rich valuations, says GAUTAM CHHAOCHHARIA, head of global markets, India, UBS. In an interview with Samie Modak in Mumbai ahead of the UBS India Summit, Chhaochharia highlights that 2024-25 (FY25) weak earnings growth is now factoring into market expectations. Investors are shifting their focus to the actions of the Reserve Bank of India (RBI) and the central government, as well as the outcome of upcoming state elections. Edited excerpts:

 

Indian markets have come off sharply from their highs in September. What