FY18 Earnings can dip to single digit if GST pain prolongs: Andrew Holland

Andrew adds he has been expecting a risk-off phase for some time now

With the markets at all-time high levels, Andrew Holland, chief executive officer, Avendus Capital Alternate Strategies, tells Puneet Wadhwa he has been expecting a risk-off phase for some time now. The information technology (IT), pharmaceuticals and telecom sectors, he says, will remain under pressure, as there are fundamental reasons for a fall in valuations. Edited excerpts:

Will the UK election outcome destabilise global financial markets? What about India?
 

The gamble by UK Prime Minister Theresa May did not pay off and there will be a hung parliament. This will likely lead to a softer stance on Brexit and strengthen Europe.