No to aviation, cautious on IT, bullish on PSU stocks: Enam Holdings
Speaking to CNBC-TV18, Sridhar Sivaram, Investment Director at Enam Holdings, weighed in on how he sees the near-term market pan out for various sectors.
Equity benchmark Sensex crossed the 44,000 mark for the first time in early trade on Wednesday, tracking gains in financial stocks amid largely positive cues from other Asian markets and persistent foreign fund inflow.
Speaking to CNBC-TV18, Sridhar Sivaram, Investment Director at Enam Holdings, weighed in on how he sees the near-term market pan out for various sectors.
“I don’t like the aviation space at all,” he said. For the current year the aviation industry will face a loss of anywhere between Rs 20,000 crore and Rs 30,000 crore. “There are so many options in the market that I would rather stay away from this space currently,” he added.
Sivaram is bullish on public sector undertaking (PSU) space. “For the first time I am getting bullish on the entire PSU basket. It looks like the government is serious on the divestment process. We have seen that for Bharat Petroleum Corporation Ltd (BPCL). PSU basket could be a big beneficiary and it is highly underinvested sector,” he said.
He would be very cautious as far as tech is concerned as the market has moved too far ahead and according to him, telecom is a sector to stay invested in. “We are still positive on telecom, we think eventually the ARPUs will go up. This is the sector to be invested in,” he said.
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(Edited by : Abhishek Jha)
First Published: Nov 18, 2020 1:01 PM IST
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