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Waterfield Advisors Senior Director Vipul Bhowar on RBI Policy
This story was originally published at 12:26 IST on 5 June 2026
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MUMBAI - Vipul Bhowar, senior director, head of equities, Waterfield Advisors, said the following on the Reserve Bank of India's second bi-monthly monetary policy statement for 2026-27 (Apr-Mar) detailed Friday:
The RBI is adopting a defensive stance in response to global supply shocks. While hawkish rhetoric without an accompanying rate hike provides a temporary respite for equity markets, it does not constitute an unequivocal endorsement of investment, particularly in highly rate-sensitive sectors such as real estate, automotive, and consumer discretionary goods.
Should inflation necessitate a rate increase later this year, these sectors are likely to experience pressure on both margins and demand. For investors, the current strategy emphasises capital preservation by focusing on high-quality equities with strong pricing power. This cautious approach is designed to navigate the prevailing geopolitical uncertainties until conditions stabilise. End
Compiled by Ashutosh Pati
Filed by Akul Nishant Akhoury
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