Manish Sonthalia wants more clarification from Trump on pharma tariffs. (Photo: Emkay website) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Indian markets are unlikely to witness any steep decline or downturns even as fresh US tariffs stir global markets, according to Manish Sonthalia, Director and Chief Investment Officer at Emkay Investment Managers.

Sonthalia argues that the Indian currency has entered the undervalued territory and that any impact of the Trump tariffs has already been priced in, to an extent. “Some could say Indian currency is undervalued at these levels. The negative implication of all exports, embargoes and tariffs is broadly priced in,” he said.

“If currency is undervalued, there won’t be much impact on earnings. Couple that with rate cuts that

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