homemarket NewsCorrection in Indian market not worrying; bullish on banking, non banking PSUs: Enam Holdings
Correction in Indian market not worrying; bullish on banking, non-banking PSUs: Enam Holdings
At 18,000 Nifty, we find a lot of safety in some of the public sector undertaking (PSU) stocks where earnings are good, Sridhar Sivaram, investment director, told CNBC-TV18.
With Nifty at 18,000, Enam Holdings finds safety in PSU stocks where earnings are good, Sridhar Sivaram, investment director, told CNBC-TV18. Sivaram also said that Enam is bullish on both banking and non-banking public sector undertakings (PSUs).
“At 18,000 Nifty, we find a lot of safety in some of the public sector undertaking (PSU) stocks where earnings are good, where we see momentum as far as some reforms are concerned. We remain quite bullish, not only on the banking PSUs but even on many of the other PSUs, which are non-banking,” he said.
However, said Sivaram, not be worried if the market corrects a little bit here and there. “India has performed 25-30 percent return on dollar terms. I would not be too worried if markets correct a little bit here and there. And also keep in mind that there are large initial public offerings (IPOs) coming, so I guess foreign institutional investors (FIIs) are making room for participating in some of the IPOs, but having said that, is there a bubble in certain pockets of the market? Surely, yes. So, I guess it's good if some of these corrections happen and bubbles are removed from the market,” he said.
According to him, largecap banks is the easiest space to be in right now. “This is the easiest play. If you ask me, what I would bet from here, I would just say largecap banks is the easiest space to be in right now, where you can see very good visibility,” said Sivaram.
For the entire interview, watch the video
(Edited by : Dipikka Ghosh)
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