New Delhi, Dec. 17 -- Shahzad Madon, MD and CEO of TCG Asset Management Company (AMC), believes that while it is difficult to predict the Indian rupee's movement in the short term, the domestic currency may remain on a weakening trajectory over the medium to long term. For the Indian stock market, he believes it is well-positioned and could potentially deliver returns in the low to mid-teens in 2026, supported by improving earnings and a constructive macro backdrop. In an interview with Mint, Madon shared his views on the stock market outlook, the rupee's movement, and the interest rate trajectory of the Reserve Bank of India and the US Federal Reserve. Here are edited excerpts of the interview:

Over the past three decades, the rupee has...