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    Crisil to establish Chair of Financial Markets at IIM-Ahmedabad

    Synopsis

    Rating agency Crisil has signed an MoU with the Indian Institute of Management, Ahmedabad (IIM-A) to set up a Chair of Financial Markets at the business school.

    PTI
    MUMBAI; Rating agency Crisil has signed an MoU with the Indian Institute of Management, Ahmedabad (IIM-A) to set up a Chair of Financial Markets at the business school.

    The purpose of the professional chair is to enable research activities that can help financial markets evolve and function better, the agency said in a statement.

    "We believe that collaboration between industry and academia is critical for enhancing our understanding of the financial markets and spot the next growth opportunities. The setting up of the Crisil Chair of Financial Markets at IIM-A is significant step in that direction.

    "We are proud of this association and hope it will fuel insightful research that can help investors, market intermediaries and other stakeholders make better informed investment and business decisions," Crisil Managing Director and Chief Executive Officer Roopa Kudva said.

    The Chair Professor will be selected as per IIM-A's policy and will have a tenure of 3 years, which is extendable. The person will lead research activities and disseminate the learnings for the benefit of all stakeholders.

    "We are thankful to Crisil for setting up the chair. Financial markets have a very important role to play in India's growth.

    "Research conducted through the Crisil Chair will contribute significantly towards improving our understanding of financial markets," IIM-A Director Ashish Nanda said.

    When asked about flows from pension funds and insurance companies, Mishra acknowledged they are getting interested in domestic markets, saying they spend a lot of time in due diligence before taking an investment call.

    They move slowly and there will not be a dramatic uptick in their interest over the span of a single year, he said.

    Mishra said he expects returns of 30 per cent from the equity markets over the next two years or 15 per cent per annum growth, but did not give a target level for the indices.

    It can be noted that the Sensex has been the second best performer YTD across the globe with a 35 per cent rally after the Shanghai index which jumped 47 per cent. And many analysts are commenting that Chinese stocks, due to cheaper valuation may spoil the Sensex party next year.

    Many foreign brokerages have given a very promising year for the Sensex with some of them seeing it at 33,000 at the end of December next.

    Mishra said the GDP growth will be handsome and the country will be one of the few pockets which will show good numbers, as the world is expected to struggle on the growth front.

    He said he does not expect the RBI to deliver a rate cut before March, as inflation may go up in January and its Governor Raghuram Rajan wants to conclusively see a downward trend in the trajectory before he starts cutting the rates.


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