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India's underlying momentum still strong, expects GDP growth of 8.6% this year; Re continue to appreciate, sees Re at 38/$ by Sep 2008: JP Morgan Chas

Monday, October 1, 2007

Rajeev Malik of JP Morgan Chase said that India's underlying momentum is still strong and expects the GDP growth of 8.6% this year. He also expects the RBI's move on rates to happen in January rather than October meet. Current lending rates can come off, even without RBI cut, he believes.

GDP growth expected to moderate to 8.6% for FY08. There are no pressure for SLR cut from bonds markets. He further said that the Money market liquidity even post advance tax remains comfortable. He does not expect a CRR hike reversal in the near term. About Indian rupee, he said that rupee appreciation is expected to be more against a weak dollar. Due to rupee appreciation, there might be negative impact on real estate sector.

He believes that RBI can intervene to manage the rupee rather than reverse its appreciation. Rupee will continue to appreciate and he sees the rupee at 38/$ by Sep 2008.

Posted by FR at 6:55 PM  

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Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it.& take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations given in this blog.