homevideos Newsmarket NewsLike private sector banks, IT; prefer auto makers over auto parts cos: BNP Paribas
Like private sector banks, IT; prefer auto makers over auto parts cos: BNP Paribas
Indian equities are not cheap, but low interest rates can support valuations, said Manishi Raychaudhuri, Asian Equity Strategist, Equity Cash Asia Pacific at BNP Paribas, on Wednesday.
Indian equities are not cheap, but low interest rates can support valuations, said Manishi Raychaudhuri, Asian Equity Strategist, Equity Cash Asia Pacific at BNP Paribas, on Wednesday.
Speaking in an interview to CNBC-TV18, he said, “The large established frontline companies, which are the market share leaders, will continue to increase their market share which is a usual phenomenon in times of disruption, but in India it’s likely to continue for the foreseeable time horizon.”
Raychaudhuri likes private sector banks, IT services and leading consumer staple companies. Within the automobile space, he prefers original equipment manufacturers (OEMs) over auto ancillaries.
“Our favourites currently are combination of auto OEMs and particularly those in four-wheelers than two-wheelers. We think that the growth for four-wheelers and not just in the immediate future but they have a longer term outlook, the growth is likely to be much stronger there and we would focus on the market leaders there. We are not so positive on the auto ancillary space but our clear preference likes for the auto OEM space,” he said.
For more details, watch the video
(Edited by : Santosh Nair)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
BJP is planning to ban RSS, says Shiv Sena (UBT) chief Uddhav Thackeray
May 18, 2024 8:01 PM
Punjab Lok Sabha elections: Complete list of Congress candidates
May 18, 2024 4:08 PM
Punjab Lok Sabha elections: Check full list of AAP candidates and constituencies
May 18, 2024 12:59 PM
PM Modi, Rahul Gandhi election rallies in Delhi today: Here are the routes to avoid
May 18, 2024 11:28 AM