Well, so there are two competing narratives. One is the narrative on regulation and maybe even on taxes, clarity on greater confidence in taxes not going up. But on the other hand, and maybe some cutting in government spending, so those would be the positive parts of what the market will like.
Capital Goods, Healthcare and New Energy top market themes for 2025: Amisha Vora
At the same time, as the order inflow, government spending has improved and it will continue to improve, then the earnings outlook for 26 will