Q1 advance tax numbers on expected lines: Fayeza Hafizee, Intime Spectrum Securities Ltd

Fayeza Hafizee, Vice President, Institutional Sales, Intime Spectrum Securities Ltd, in a chat with ET Now talks about Q1 advance tax numbers.

What do you make on Q1 advance tax numbers? You have got a call on Bank of Baroda as well as Infosys and HUL, how are you looking at them?

Honestly, the fact that the numbers are this good is not completely unexpected given that last year was just the beginning of a recovery and we are looking at a low base effect as well. But the important thing here is that the Indian economy has been seeing a lot of good news flowing in and this is just one more factor, probably the reason that the markets are not breaking a lot.

I would hope that these factors will come into play over and above the European and the US factors that are currently directing where the markets are going. The advance tax numbers as of now - the way I look at it - are very much in line with expectations. The government has given out very good numbers on GDP growth for this year as well and we would need these kind of numbers to make that kind of GDP growth to happen. So no real surprises yet according to me.