There is a scope for rural consumption to grow due to huge unmet demand driven by higher income levels as well as increased penetration of brands, Jinesh Gopani tells ET Wealth.
What is your reading of the current market situation with broader markets holding firm though earnings are not coming through?
Valuations have been high for some time given the lower earnings growth due to two back-to-back blows (demonetisation and GST). GST transition has hit sales and profits in the first quarter due to destocking and heavy discounts offered ahead of GST implementation. We feel that earnings growth should take one or two quarters to come back.