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Hiren Ved, CIO of Alchemy Capital Management said that valuations will look higher for capital goods stocks during an upcycle, but an investor can still benefit if they are looking at a long term perspective. ....
“There are still opportunities in a lot of areas. Specialty chemicals, agri, IT services or tech have not moved as aggressively as what the industrials have done from a risk-reward perspective and there are opportunities. But the message is that if you are invested even in some of the leading sectors like industrials, capital goods and power, you should remain invested in those sectors." ....
“If for the whole of the country, there are going to be only two food delivery companies, then the opportunity is much bigger and today maybe a 100 million customers out of 1.4 billion are using a service like this. Five years out, 200 million, 250 million of the middle class households might use that and then the frequency of use might improve.” ....
“The representation of the sectors which are likely to outperform over the next five-seven years in the Nifty is far lower. Auto and pharma have virtually no weight in the index. But if autos outperform in the next five years or manufacturing outperforms, they could run at a faster pace than what the Nifty could run.” ....