Neutral on Indian equities from a 12-month standpoint: Venugopal Garre

Equity returns will be low this year - and perhaps even lower than fixed deposit rates - if one holds positions for 12 months, says Venugopal Garre, MD at Sanford C Bernstein

The markets are trying to find their feet again after a choppy start to calendar 2023. Venugopal Garre, the Singapore-based managing director and senior analyst at investment research and asset management company Sanford C Bernstein, in conversation with Puneet Wadhwa, says he expects a rebound in Indian equities, with the Nifty50 moving to 18,000–18,500 levels this quarter. Edited excerpts:

Where is India on your shopping list?

India’s underperformance of the past six months versus the emerging markets (EMs) should narrow this quarter. Broader EM health is not particularly better than that of India’s, and more importantly, India is still expected