Crude at $65, consumption boom, and the Rupee's new shield: Dinshaw Irani's big market calls

Helios Capital's Dinshaw Irani projects crude oil falling back to around $65 a barrel by year-end as an 8 million barrel daily surplus builds from US and Iranian supply additions, a significant windfall for India which imports roughly 5 million barrels daily. He credits proactive RBI and government measures like FCNR(B) deposit incentives and removal of withholding tax on G-Sec interest for stabilising the rupee and potentially drawing in $70-90 billion in additional foreign flows. On equities, Irani recommends avoiding FMCG and IT stocks on stretched valuations, while backing discretionary consumption plays including Eternal and Phoenix Mills, alongside NBFCs, hospitality, and healthcare beneficiaries of India's Gen Z spending boom.