2017 will be more stable and better for equities than 2016: Leo Puri

Effects of demonetisation should wear out by March, says Leo Puri

Leo Puri, managing director at UTI Mutual Fund, is positive on Indian equities and says the effects of demonetisation should wear out by March. In an interaction with Sheetal Agarwal, he talks about his expectations from the Budget. Edited excerpts:

What is your outlook for 2017?

It will be a better year for the equity markets. Though demonetisation has deferred earnings, that is a deferral of demand and not destruction. This deferral could be priced back in the next two quarters. I see that as a positive driver in 2017. We know much more about where the world is