Falling crude, stronger rupee could boost earnings outlook for India: Deepak Shenoy

Deepak Shenoy is constructive on India's near-term outlook, citing falling crude oil prices, rupee recovery to 94 from nearly 97, and moderating inflation as tailwinds for corporate earnings from the December quarter onwards, though he expects the next two quarters to remain dull. He cautioned that AI and semiconductor valuations may face pressure as supply normalises and token costs decline, while flagging structural demand upside for base metals like copper and aluminium from a global capex cycle.