The RBI Is Thus Forced To Continue Absorbing Liquidity

The RBI is thus forced to continue absorbing liquidity, he said.

He feels cost of capital should hence remain low, manifested in low interest rates and high P/E for equities.

Mishra said non-banking finance companies growth should continue, net interest margin though may compress. LIC Housing Finance and Indiabulls Housing Finance should benefit, he added.

Bharti Infratel, Coal India and ONGC were under pressure on profit booking.

Tata Coffee and Liberty Shoes rallied 12-16 percent post bulk deals.

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