homemarket NewsBank Julius Baer identifies banks, auto, and IT as most promising bets in Indian equity market
Bank Julius Baer identifies banks, auto, and IT as most promising bets in Indian equity market
In an interview with CNBC-TV18, Mark Matthews of Bank Julius Baer & Co said that banks, auto, and IT stocks are currently the preferred bets for investors looking to make gains in India's equity markets.
Bank Julius Baer & Co’s Mark Matthews has maintained a positive outlook on India for quite some time now. Recognising the country's robust growth trajectory and immense potential, he continues to advocate for investment in the Indian market. He emphasised the potential of banking, auto, and IT stocks, positioning them as preferred bets in India.
In an interview with CNBC-TV18, Matthews said that banking, auto, and IT are currently the preferred stocks for investors looking to make gains in India's equity markets.
He said, “Banks, automotive, and IT - they all make sense. Artificial Intelligence (AI) is going to be as big as the internet. And for sure, your IT companies will be as much beneficiaries of those as the IT companies in the United States. The automotive is going gangbusters in India and there is so much room for more growth there. And banks are the heart of any economy, and the Indian economy will more than double in size over the next few years.”
Talking further about banks, he said that the Indian banking sector has been performing well in recent years, thanks in part to the government's efforts to reform the sector. As the country's economy continues to grow, Matthews believes that the banking industry will play an increasingly important role in driving that growth.
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Auto stocks are another area that Matthews is bullish on. The Indian auto industry has been expanding rapidly in recent years, and Matthews sees this trend continuing for the foreseeable future. As more Indians move into the middle class, they are likely to purchase more cars, which should benefit the companies that produce them.
Matthews believes that IT stocks are a good investment opportunity in India. The country has a large and growing tech sector, and many Indian companies are becoming increasingly competitive on the global stage. As more businesses move online and rely on technology to operate, Matthews believes that India's IT companies will continue to thrive.
For more details, watch the accompanying video
(Edited by : C H Unnikrishnan)
First Published: May 18, 2023 1:30 PM IST
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