Institutional investors need reassurance on governance, says Jigar Shah

The markets will now react to the June-quarter earnings of India Inc, besides global cues, over the next few weeks. Jigar Shah, chief executive officer at Maybank Kim Eng Securities, tells Puneet Wadhwa that as a base case, his six- to nine-month Nifty50 target is 10,500. The market, he says, will present more bottom-up opportunities this year and a broad-based rally seems difficult. Edited excerpts: What are your expectations from the June-quarter results? Your earnings growth estimates for the Nifty in FY20? Consensus earnings growth for Nifty stocks is in the high twenties for F.....

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