Monday, 16 January 2017

Sensex recovers, Nifty reclaims 8400; Tata Steel, Tata Motors up

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Pointing out the macro data in the months of November and December may contain demonetisation “one-offs”, the impact of the currency recall exercise will extend beyond the March quarter. It will be take about 12-18 months to assess the complete impact of demonetisation. Mishra pegged corporate earnings growth in FY18 at 10-12 percent, while saying the FY17 earnings growth may be hit due to demonetisation. 

Sharing his outlook on the IT sector which has seen slowdown in the recent quarters, it is possible that IT sector revenues will grow in the next few quarters. If corporate spending in the US increases on account of factors like taxes, Indian IT companies will benefit.

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