Mukesh Jindal, Senior Partner at Alpha Capital agrees with the RBI's full year growth direction. But over 7 percent growth is the good case if oil cools, he said, adding the growth around 6.5 to 6.8 percent can be possible.
In the base case, he sees the Nifty 50 at around 24,000-25,000 levels only if the September-quarter numbers are decent and crude stops rising. A new high by March is possible but not the plan, he said in an interview with Moneycontrol.
According to him, US bond yields at 6 percent, if it comes, is not a reason to exit Indian equities. Domestic money is large enough to stop a collapse, he said, adding
Do you believe bank stocks are approaching fair valuations at current levels?
My view is they are close to fair. Not cheap across the board.