In the case of Brexit, clearly, there is going to be a negative impact on the UK and contagion effect on Europe, but there is no ground to be nervous about markets like India, he says.
The acquisition is Vistra’s second transaction in India this year following its acquisition of IL&FS Trust Company in April.
Rollover of all index and stock futures to the July series stood at 81%, as against the average of 78% in the last three months.
The rising interest in the beaten-down stocks was partly due to the passage of the Real Estate bill, and on the back of relaxation of rules on REITs.
In the grey market, shares are traded ahead of their listing and punters settle trades by delivering shares when the company lists on bourses.
Fund managers say the small- and mid-cap companies are now preferred because they are largely focused on domestic market and have low FII holdings.
India should be less affected from the fallout post Brexit issue as it doesn’t have huge ties to Britain or the European Union in the way of exports or other sectors.
Sun Pharmaceutical Industries, Lupin, Aurobindo Pharma, ITC, Hindustan Unilever, Titan Company, NTPC, Mahindra & Mahindra, Hero MotoCorp, Shriram Transport and BPCL look most insulated, said Deutsche.
"India is outperforming on growth and if govt comes up with more sensible reforms that could be an extra reason to up rating on India," said Srinivasan.
Morgan Stanley said earnings have surprised negatively in the last two years but balance sheet has improved upon infusion of equity.
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