Find out Jigar Mistry’s quick take on market and Q3 earnings

Buoyant Capital’s Jigar Mistry said on Tuesday that there is still a lot of businesses that are far more interesting than the themes which have become very used in the last five years.

Speaking with CNBC-TV18 on the overall market performance and outlook and Q3 earnings, Mistry, co-founder of the investment firm said, “If you are investing, depends again on what kind of portfolio you are running but there is still a lot of steam left in some names which we think are structurally have not still fully caught up.”

He added, “Not to say that we are not going to see pullbacks along the way so I am not saying that this keeps on going up in a linear line upwards. But there are still a lot of businesses which are far more interesting than the themes which have become very used towards the last five years.”

On Q3 earnings, Mistry said, “Although third quarter itself would have some amount of cost that is not coming through even as revenue starts flowing back, but most commentaries across the conference call suggest that part of the cost-saving is going to be structural. So from that perspective we could be in the initial years of turning around and that is again at a very low level as we speak, so this could be the first signs of profitability power or the pricing power between employees and corporates across industries and larger corporate shifting back towards the larger ones, so looks like a good time.”

On United Spirits, Mistry said, “It is a classical reopening trade United Spirits and to some extent United Breweries as well. They sort of are consumed out of home in India to a large extent and with restaurants opening—the revenues continue to be a sort not match up to pre-COVID levels but cost cut has started flowing through.”