As global markets continue to slide down due to the Euro crisis, the Indian markets too seem to have consolidated after three sessions of consecutive rallies. In an interview to CNBC-TV18 PJ Nayak, India Head and CEO of Morgan Stanley, explained that the Indian financial sector, in the past 2 years, was not as injured as compared with global counterparts. Although he believes that RBI’s policy action is likely to be calibrated, he warns that there maybe a couple of minor hikes in the short term.
Speaking to CNBC-TV18 ahead of the Morgan Stanley conference that kicks off tomorrow, he says that this year, the conference is likely to be bigger and expectations were huge. This year round 325 investors are attending compared to 250 investors the last year while around 60 companies will be attending the conference against 50 in the previous year.
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