Stock market veteran and Chief Investment Strategist of Reliance Capital Madhusudan Kela is bullish on Indian market amid recent correction.
Kela in an interview with CNBC- TV18 told “There are plenty of opportunities which are there in the markets, both in midcaps and large-caps. Corrections like these give investors chance to capture the opportunity,”. Kela believes investors should not be worried of such a correction as it was long overdue since Nifty tested levels of around 7,800 last year.
“Due to the vibrancy of the market, one is getting a variety of companies to buy,” he added.
He further suggested investors to grab the opportunity in the market if more correction happens. In his word to CNBC TV18 “If there is a decent correction in the market, there are too many people waiting outside waiting to participate. You will now see all those people who felt left out coming in.”
Sectoral View;
When he was asked about his opinion on investing in particular sector, Kela revealed his preference on infrastructure specially as ‘bear market survivors', One the other hand, he also see opportunities in the pharmaceutical and select banks. While taking about other sectors he said “There are firms which have had extremely challenging times and you can find them across caps, one has to do bottom up work as well”.
Talking about IT stocks, he suggested to focus on digital part of the business as it is all set to grow and will emerge as a market surprise in a year or two but overall, he would prefer select large-cap IT companies.
Courtesy: moneycontrol
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