Despite the recent weakness in the Indian equities, which may have added some volatility, Amar K Ambani, Executive Director at YES Securities, remains optimistic about a gradual recovery in FY26. He believes the backdrop is constructive, with rural demand improving, inflation moderating, and fiscal measures supporting consumption.

In a recent interaction with Business Today, Ambani expects 12–14 per cent returns over the next year as markets regain momentum. He highlights resilient earnings, especially in midcap IT, capital goods, and PSUs, and sees emerging opportunities in EMS, value retail, and CDMO spaces. Precious metals, he adds, remain in a structural bull run despite short-term corrections. Read the edited excerpts:

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