“We are committed to encouraging innovation, especially in fintech and we will be supportive of innovation. At the same time we also try to assess what risks it is building up for the system, for the economy and those risks will have to be addressed not by the regulator. It is our responsibility to see that there is no unbridled, unchecked risk build up.”

“Foreigners have been buying this market and have periods of selling the market as well but one of the other big positives for India is the increasingly large domestic buying. If developed markets go another notch lower, then it is unlikely that India would remain unaffected. But, excluding major international events, the Indian market looks fairly well held up and should not be as volatile as in the past.”

"We are cautious on sectors that are levered to global demand and global pricing. Some downgrade possibility remains in those sectors on worsening global growth outlook. On the contrary, we are more confident in domestic demand-oriented sectors. Given high valuations and many global uncertainties on the global front one should not load up."

“It is important to look after the aviation industry and ensure that the players who participate in building an international hub in India are financially strong and viable. For that, it is important that we look at the cost structure of the airlines. A large part of the cost relates to ATF which in recent days has gone up to account for 70- 80% of the revenues of an airline.”

“Initially the risks were balanced but now we think that even with the risk of higher food prices going forward, inflation numbers are going to come down. By Q1 of FY24, we are likely to be about 4.8% to 5% but that is pretty much the broad trajectory of inflation that will be coming down. ”

“The midcaps and smallcaps will have a better run from here because whenever we see an upturn in the economy and tailwinds for businesses, they generally tend to give much higher growth and some of them leap into the next league, from a small to a mid or a mid to a large company. This is where the inflection points and the rerating of the businesses happen in the markets.”

“We are living in a very dynamic world and the central bank has to become a dynamic organisation in terms of actions – not action for the sake of action but action because it is necessary. We have to be in tune with the times and also anticipate emerging developments and always remain in sync with the times. Today, debate around whether RBI is behind the curve has hopefully ended.”

“We saw that post-pandemic, two very major shifts happening in the Indian economy which is going to create massive amounts of wealth over the next 5-7-10 years. One of them is manufacturing. The second shift is that every company globally and locally is forced to spend a lot more money on technology than they have ever spent. This is a five- ten-year trend where the spend on manufacturing and IT is going to increase and these are the structural opportunities.”

“Bajaj Finance is one. In the second half, when the festivities begin, this company should benefit. Then comes Laurus Lab; its CRAMS business is doing exceptionally well. We like KSB Pumps. It is playing the nuclear opportunity. Tata Chemicals will do well as soda ash prices will remain firm. Phillips Carbon Black is an indirect play on the entire auto pack and reported one of the best margins.”