homemarket NewsBullish on domestic economy; prefer banking, capital goods, autos: Manulife Investment
Bullish on domestic economy; prefer banking, capital goods, autos: Manulife Investment
Manulife Investment Management is more bullish on the domestic part of the economy, Rana Gupta, senior portfolio manager-India equity specialist, told CNBC-TV18. Gupta also said that they prefer sectors like banking, capital goods and autos.
Manulife Investment Management is more bullish on the domestic part of the economy, Rana Gupta, senior portfolio manager-India equity specialist, told CNBC-TV18. Gupta also said that they prefer sectors like banking, capital goods and autos.
“We are more bullish on the domestic part of the economy. So the domestic cyclical stocks will be a place where we would be most constructive on, which means the banking sector, the capital goods sector, the auto sector because these sectors contribute the most to domestic economic recovery,” Gupta said.
On global equity markets, he said, “There could be corrections related to positioning and pricing - that is certainly possible, but all those corrections are part of a large upmove that is unfolding."
“Within the stock market, we will be more careful about the valuations in certain sectors where the companies are doing very well, but the valuations have run-up about 60-70 times PE and there, one can be more careful because the companies will do well but the stock price returns may not be as much because the starting multiples are so high in those sectors.”
For the entire interview, watch the accompanying video
(Edited by : Dipikka Ghosh)
First Published: Nov 8, 2021 10:07 AM IST
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