“The capex that will be needed for tomorrow s world will be very different. India is taking the lead in some of those sectors and maybe in the next few years, once people have a little more clarity in terms of the technological changes and what is happening in the world, and then put up large money on the table and commit large sums.”
“It is very difficult to say that whether it is a midcap or sentimentally by numbers it might look like a largecap but within the domestic consumption space, organised retail is a very good space where we have a decent allocation and organised retail shows no impact of what is happening outside India.”
“We have been slightly more constructive towards the PSU banks. Banks have done very well performance wise and in terms of fundamentals, but the stocks have not participated. It is the second and third tier PSU banks which have participated. We think there is still merit, particularly in some of the larger second tier banks.”
Rahul Jain, President and Head of Nuvama Wealth is positive about the Indian market for the Samvat 2080 even though he thinks there may be some volatility due to domestic and global factors.
“In India the largecaps – Nifty, Sensex can compound 12% longer term. I do not see a challenge in that. Markets are now close to historic multiples, slightly higher but I think there are three reasons why Indian multiples may settle higher than the past – faster growth, lower cost of capital and lower volatility.”