Rupee depreciation has unnerved FPIs: HDFC Securities MD & CEO Dhiraj Relli

The potential for India to grow has so far been undisputed, with only the speed or timeline being the unknown factor

Volatility is likely to persist because of negative global cues as well as state and national elections, says Dhiraj Relli, managing director & CEO, HDFC Securities. In an interview with Ashley Coutinho, he says investors should seek the safety of quality companies with high earnings visibility even at higher valuations. Edited excerpts:

What is your outlook for the market for the year ahead?

Market valuations have corrected in recent months, but volatility is likely to remain. This is due to the negative global cues as well as domestic factors such as elections, pressure on the current account deficit (CAD) and