Buying stocks of companies with global footprint: Old Bridge's Andrade
“There are early signs of many companies likely to see some growth in the year,” said Kenneth Andrade, Founder & CEO of Old Bridge Capital Management in an interview to CNBC-TV18.
“There are early signs of many companies likely to see some growth in the year,” said Kenneth Andrade, Founder & CEO of Old Bridge Capital Management in an interview to CNBC-TV18.
He is looking at businesses that have held through the entire cycle.
“We will participate in some of them but if we are valuation conscious then there are some segments in the market that we will take money off the table,” he added.
According to him, gains in the markets have narrowed to a few sectors.
On midcaps, Andrade said we are allocating funds to companies which have more of a global footprint.
“However, chemicals or businesses that are catering to the domestic environment – these are much consolidated in nature, there is a trade that is across the world and we will have to look further than just chemicals, pharmaceuticals and IT,” he added.
Andrade does not expect IT companies to get back to growth in mid-teens.
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