homevideos Newsmarket NewsMarket prepared to look beyond COVID 2nd wave; cautious on autos, says Edelweiss’ Aditya Narain
Market prepared to look beyond COVID 2nd wave; cautious on autos, says Edelweiss’ Aditya Narain
The Indian equity market is prepared to look beyond the second wave of COVID-19, said Aditya Narain, head of research-institutional equities at Edelweiss Securities, on Wednesday.
The Indian equity market is prepared to look beyond the second wave of COVID-19, said Aditya Narain, head of research-institutional equities at Edelweiss Securities, on Wednesday.
Speaking in an interview with CNBC-TV18, he said, “Prioritizing lives over livelihood at this point will remain an endearing theme and I don’t think the market should necessarily worry too much about it. The demand comeback is going to be gradual unlike last time and that’s where one needs to focus a bit more on.”
Narain is of the view that the demand may get hit as the companies will hike prices to protect margins.
“Therefore, the bottomline is the call on demand-side that need to make rather than focus too much on the supply side,” he said.
Narain remains cautious in the auto sector as the discretionary demand is expected to be under pressure over the next six months. He also expects to see some earnings cuts for auto companies.
Edelweiss prefers global-facing themes owing to likely disruptions in domestic companies.
“In many sense, the global side, from near-term, seems much more comfortable and we think it’s reasonably sustainable also. Therefore, from a portfolio perspective that’s a space that we would look at,” said Narain.
For the entire interview, watch the video
(Edited by : Ankit Gohel)
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