'We are a quarter or two away before growth comes back'

The Indian stock market is at a crossroads. Volatility remains high, valuations are adjusting and investors are looking for clarity. Daylynn Pinto, Senior Fund Manager (Equities) at Bandhan AMC, believes the market has become "slightly more attractive" but only on a stock-to-stock basis rather than a broad-based opportunity. In this insightful conversation, Pinto shares his thoughts on the cyclical slowdown gripping the economy, the factors needed for a market recovery, the potential of China taking away a share of foreign capital and the challenges faced by the funds he manages. With over Rs 20,931 crore in assets under management (AUM) across five schemes, including the Bandhan Sterling Value Fund (4-star rated) and the Bandhan ELSS Tax Saver Fund (3-star rated), Pinto provides a candid look into his investment strategy and how he's positioning for the future. Here's the edited transcript. Indian markets have remained volatile. Will this level of volatility persist or ease in the near term? This is a common question that comes up every three to six months whenever I talk to someone. With geopolitics, tariff wars and the current domestic slowdown, I think we live in a volatile world. We all have to get accustomed to volatility. It is here to stay; the key is to maintain a rational, composed thought process during these volatile times and construct your portfolio in order to navigate through these times. Hopefully, there will be light at the end of the tunnel. What key factors or catalysts could trigger a recovery in the Indian equity markets over the coming months? There have been a couple of issues over the last six months. Indian markets have been a little more turbulent than we would like them to be, and I think part of this is due to global factors and partly due to local factors. Following the US elections, the global level of uncertainty has escalated due to the policy announcements that we've heard from the US. This issue has definit