This is not the worst of the numbers we have got: Vivek Mavani

Vivek Mavani, VP-Institutional Equities, Brics Securities, talks to ET Now on IIP numbers.

What did you make of the IIP data?

Two things. As far as IIP data is concerned, it was only expected in terms of slowdown and that is what we got. This is something, which a lot of corporates had been shouting over the last few months as to a slowdown in their activity as far as top line growth was concerned, orders or the enquiries and slowdown in execution and so on and so forth and that rank across sectors actually and across size of companies, so it is one could not have singled out that okay, hey, this is an island where growth still exists or only these are the trouble points.

Now we are seeing the trouble points largely across most businesses across the economy, so it is quite on expected lines. Now only thing what we need to see is now that RBI has hinted at a pause, we just needs to see whether this is the worst or some more pain is likely as far as slowdown in the economic macro indicators.

My sense is that we would go through some more pain as far as macroeconomic factors are concerned, so I do not think this is the worst of the numbers we have got. Probably similar numbers over the next few weeks or next few months, I would not be surprised if this is what we get for November-December and January also so on and so forth.