Strong earnings, easing headwinds to boost market outlook: Devang Mehta

Market expert Devang Mehta remains constructive on Indian equities, citing strong earnings across large-, mid-, and small-caps and improving macroeconomic conditions including easing crude oil prices. He prefers power ancillaries, transmission infrastructure, HVDC, and renewable energy plays over direct power producers, and is also positive on financials and capex-related businesses. On IT, Mehta maintained a cautious stance despite welcoming HCLTech's partnership with Sarvam, suggesting frontline IT stocks may deliver only about 10-12 percent CAGR returns.