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Reliance Securities sees Nifty index touching 11,700 by April 2020 on the back of certain recent positive developments for the economy, its Research Head Naveen Kulkarni has said.
“My optimism comes from ... we are looking at better monsoons for this year, we have seen rate cuts; government will be able to manage fiscal deficit much better this year. All these will have compounding effect probably from Q3 onwards,” Kulkarni told BusinessLine here.
September is a tough month, but one could get positive surprises from some results in the second quarter itself, he said.
From October onwards, one can expect rebound in equities, according to Kulkarni. For financial year 2019-20, Nifty Earnings per share is estimated to be 580 and for the next year it is estimated at 670.
“Earnings (corporate) will still grow. This year also there was 6 per cent growth in Q1. Earnings will grow by some bit this year too,” he said when asked if the expected Nifty upside would come from a PE re-rating or a jump in earnings growth.
No slowdown effect
Meanwhile, Rajeev Srivastava, Business Head — Securities & Commodities, said that the current slowdown in economy has had no effect on retail client acquisitions. “The customer acquisition rate continues to be buoyant for us. There is no slowdown (economy) impact here. It has accelerated for us,” Srivastava told BusinessLine .
He also said that Reliance Securities expects to touch the 10 lakh retail customer count in the next year (2020-21). As on date, Reliance Securities has 9 lakh retail clients. Srivastava said that Reliance Securities will look to invest more on the digital front while not scaling up the existing physical infrastructure. “For us, it will be a phygital approach — blend of digital and physical. The future investment will largely be a digital play,” he said.
App for new investors
Reliance Securities, in the next three months, plans to come out with a dedicated mobile App focussed on ‘new-to-market’ retail clients, said Rajeev Srivastava, Business Head — Securities and Commodities.
This mobile App is likely to be called Reliance Smart Money Mobile App, he said. Reliance Securities already has a mobile App for its retail clients. The proposed new App will have lot of content for educating those who are new to the markets on the various market-related concepts.
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