Global recovery will be faster than domestic due to better fiscal support: Max Life’s Mihir Vora

In this episode of Taking Stock, Mihir Vora, Director & CIO at Max Life Insurance, gives a fundamental view on the markets while Jai Bala of Cashthechaos.com gave a technical view.

On markets, Vora said, “Valuations had run-up a bit ahead and it was anyway good time for the markets to consolidate and the global developments probably are giving that opportunity for the markets to kind of take a breather and digest all this euphoria especially after the budget that we saw.

On IT stocks, he said, “Us recovery will be faster than the Indian recovery so domestic recovery may lag the global recovery because of the sheer size of the fiscal and monetary stimulus that the US has done. So to that extent at least in the short-term the next few quarters we might continue to see US doing relatively better and IT services especially is a good place to play.”

While giving his stock picks, Jai Bala said, “I am going long on BPCL with a stop below Rs 410 with a price target close to Rs 480 and TVS Motors from the two-wheeler space. Long on TVS Motors with a stop loss of Rs 550 with a price target close to Rs 665.”

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