“Mayur Patel is bullish on the Indian equity market for the medium to long term (12-18 months), citing a materially improved macro architecture with eased liquidity, RBI rate cuts, and rebounding credit growth to 13-14%. He sees favorable risk-reward in domestic segments like discretionary consumption, financials, manufacturing, and capital goods, specifically highlighting financials, telecom, commercial vehicles, and integrated solar manufacturing as having improving structural drivers that are not yet fully valued. Key risks include crude price volatility and AI disruption in legacy IT services.”