Because of the significant slippage in the FY19 Budget versus revised estimates, regular tax estimates had to be brought down. The last print was 10.1% year on year which is even lower than what we had three months back.The conditions remain quite tight. Today’s news headlines are saying that there is going to be a lot of land sale from the government. To grow the economy, you need a lot of dense forms of energy. We are very selectively buying them but we need to start looking a bit carefully at our stock holdings within the sector.The fact is interest rates are on the way down.

Source: Economic Times July 08, 2019 07:41 UTC