Corporate earnings are on the road to recovery, and while the upcoming earnings season will see companies reporting stable numbers in the fourth quarter, the real upside will be visible in the April to June quarter of the next financial year, said Enam Group Chairman Vallabh Bhanshali in an interview to BloombergQuint.
He is also confident that foreign flows are headed to India, but cautions against short-term headwinds, which depend on global events and not a reflection on the macro conditions in India. “The world is pregnant with lots of developments. Foreign flows by and large are headed for India, subject to short term response on what happens in global arena,” Bhanshali said.
2017 has so far turned out to be a great year for initial public offerings (IPO) with subscriptions jumping to an 11-year high, and Bhanshali is optimistic that the trend will continue, provided the companies headed for the primary markets have sound fundamentals. Post the success of retail chain D-Mart's parent company Avenue Supermarts Ltd. 's listing, there is an appetite for IPOs, said Bhanshali.
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