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Deep correction unlikely, indices poised for higher levels: Sandeep Jethwani

In an interview with Moneycontrol, Sandeep Jethwani, Managing Partner, IIFL Investment Managers reckons that from a calendar year-end perspective, markets are poised for higher levels.

Jethwani said, "Given the kind of liquidity on the sidelines, we do not expect too many deep corrections in the market. However, near term events, any negative news might affect the market marginally."

About a possible tax on capital gains made on listed equities, Jethwani said the government will look at it as an overall position on the capital markets. He added that there are other tax adjustments that will need to be made if this tax is to be introduced.

Jethwani also spoke about corporate tax, saying there is hope for the corporate tax rate to be reduced.

"We are looking at it in the context of countries like the U.S reducing the corporate tax rate. So India as a country will have to stay competitive," he said.

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