'Time To Deploy Capital': Nilesh Shah Expects Double-Digit Returns In Samvat 2082

Samvat 2081 hasn't been the best for the Indian stock market, as it has faced multiple headwinds, including geopolitical uncertainty and tariff wars. But as we gear up for Samvat 2082, Envision Capital founder Nilesh Shah is expecting double-digit returns and also believes it to be a good time to deploy cash.

"I won’t be surprised to see double-digit returns over the period of next year," Shah told NDTV Profit. “Expecting robust growth during the second half of Samvat 2082, which is essentially April to September 2026."

Shah expects tariff-related headwinds to persist in the first half of Samvat, which constitutes a period between now and March 2026.

However, he believes this could be an opportune moment for investors to deploy capital in the market, especially now that entry level valuations have become way more attractive due to the drawdowns.

"Outlook on the Indian stock market from short, medium and long term remains quite positive. Due to the drawdowns, entry-level valuations have become more attractive," he said.

"From now to March 2026, expect tariff tantrums to still play a key role. This period between now to March would get me used to deploying capital," he added.

While safe-haven assets such as gold and silver have ruled the roost in Samvat 2081, Nilesh Shah believes equity markets will return in a big fashion in the coming year.

Shah adds that the equity markets will be supported by lower interest rates and the government's push for capex, among other things. He even believes that foreign investors, who are underweight on India, can act as tailwinds for Indian markets.

"Foreign portfolio investors or international investors are very underweight on India compared to global benchmarks. And that is another thing that can act as a tailwind for the markets," he said.