For valuations to sustain, corporate earnings need to deliver: Setalvad

Equity market direction will hinge on domestic earnings, the trajectory of global growth and inflation, especially in the US and China, according to Chirag Setalvad, head — equities, HDFC AMC. In an email interaction with Abhishek Kumar, Setalvad says positive surprises may emerge on the rural consumption front amid favourable monsoon and a low base. Edited excerpts:

What are your three key takeaways from the Budget from an equity market perspective?
 

The most important takeaway for me was that the government maintained fiscal discipline despite populist pressures. Additional dividend from the Reserve Bank of India (RBI) could have