Markets are currently factoring in the after-effects of Taper. One of they key events markets closely eyeing on. Pankaj Murarkar, CIO, Renaissance Investment Managers joins ET Now to help us understand effect of taper talks on emerging market and shares his market perspective. He believes 2021 taper is very different compared to 2013 on the back of changed market dynamics. In 2013, markets were not anticipating such a big move and hence were not prepared. “India is in a better position to deal with taper now” says Pankaj Murarka. Last 3-4 years, he believes inflation in India has not surpassed alarming levels.
In India, July 2020 onwards recovery started playing out. After analyzing the current scenario, he opines that companies have exemplified a better balance sheet health backed by strong demand. Furthermore, recent management commentaries signals high level of business confidence. “Capex cycle can surprise and sustain for ten years” he further says. Going forward, he believes metal companies will record highest cash flows. Over 5-7 years, bullish on capex cycle on the back of new capacity creation. He further highlights another key trend, ‘Emerging Technology’ likely to influence consumption patterns and entire ecosystem. “After analyzing current trend, Investors now view equities as a core asset with a long-term perspective” he says looking at the increased investor participation in the market.
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