India Market Set for Strong Growth, But Crude Oil Prices Pose Risk

Ankit Tikmany, Chief Investment Officer at Jainam, is optimistic about India's market prospects. He believes that the June quarter has been better than expected, and the September quarter will be even stronger.

Tikmany points to several positive signs, including record GST collections in July, which have hit a high of Rs 2.11 lakh crore, up around 15 percent YoY. He also notes that consumer sectors that dragged in Q1 are likely to get a seasonal lift from the upcoming festive season.

However, he flags two key risks: crude oil prices and the monsoon. If these factors come under control, Tikmany believes that the market could hit a new record high after Diwali, provided crude oil prices come off, banks get their margins back on track, and foreign money starts flowing in.