Equity Alert: Enam's Bhansali says US will go into recession
MUMBAI--11:40AM--The suspense about the US economy is over now,
and it will
go into recession, Vallabh Bhansali, co-founder and chairman of the
Enam Group,
told CNBC-TV18 today.
He believes that the current situation in the Indian equity market
is
"very tricky" and investors should remain calm.
Although fundamentals of the Indian economy may be intact,
sentiment is
pressured, Bhansali said.
The government may slow down reforms given local and global
factors, he
said. He expects real estate prices to remain under pressure for some
time.
However, lower crude oil prices and the likely decline in
inflation are
positives for India, Bhansali said.
He also believes that weakness in the rupee will not sway long-
term
investors much.
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