No possibility of a recession in India: Amar Ambani of YES SECURITIES

Mumbai, August 10, 2021: With respect to India, there is no possibility of a recession as the consumer spending is not as leveraged or credit driven as it is in the West, according to Mr. Amar Ambani, Head – Institutional Equities, YES SECURITIES. One of India’s leading wealth broking and investment advisory firm, YES SECURITIES reckons that the global economy will witness a slowdown but not a recession.

The research team at YES SECURITIES envisages Nifty to hit 21,000 by 2022 and 32,000 in 2025. Given the slew of conducive factors, including a pronounced business shift from the unorganised sector to the organised space, a marked acceleration in the digital super cycle, sustained margins from the pandemic-enforced prudent cost management, all benefiting the listed space. As things improve globally, YES SECURITIES also believes FPIs will come back, which will drive these markets to much higher levels and could lead to better returns in FY24 than this year.

India’s demographic dividend will bolster this consumption with India’s young population highest among top 10 economies in the world. Gig economy will see a huge uptick with over 80 million jobs expected to be added in this decade and the contribution to GDP rising to as high as 10%.

Earnings season will boost growth for sectors like Telecom, Capital Goods, Pharma, Banks, Asset Management, Real Estate, Cement, Discretionary, and Building Materials among others.