Infra, small and midcap consumer stocks and select NBFCs are where Mark Mobius, Partner, Mobius Capital Partners, is interested despite a dip in the market. Excerpts from interview with ETNOW.
What are some of your takeaways from the Budget this time in terms of an indicator of reforms. From a market standpoint, do you feel that it was in line with expectations or would you have liked to see more?
It is a good sign. I belie ..
What I would like to see of course is implementation of privatisation. One of the interesting points of the budget is that the Finance Minister mentioned that they wanted to have more listing of state owned enterprises and the very interesting part of that was the recognition that ETFs or exchange-traded funds and index funds meant that a lot of flows were coming in, driven by the industries and therefore it was important for India to have a heavier weighting in the various overseas indices. It ..
Absolutely, given the glide path that we have seen around the world. Just to add to that, there were some talk about the short-term capital gains tax in line with the LTCG. How may that deter foreign investors from really getting excited about pumping money into India? Do you feel anything on the taxation front would suggest that India is rich as a valuation play currently compared to what is happening in the world?
Well when we talk about India we talk about growth. Current ..
The issuances of sovereign bonds by India has been a longstanding demand from the foreign investors. Do you think the fact that a step was taken in this front can be viewed very positively and what sort of signs are you getting for the bond markets?
It is a very good move on the part of the government because India should be recognised in international capital markets and this very issue of sovereign bonds will go a long way towards increasing the credibility of the country i ..
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