homevideos Newsmarket NewsSee more room for upside in pharma; positive on IT earnings: Ashmore Investment
See more room for upside in pharma; positive on IT earnings: Ashmore Investment
Pharma stocks could see more upside despite the big run recently, said Ashwini Agarwal, Co-Founder & Partner of Ashmore Investment Management India, on Tuesday.
Pharma stocks could see more upside despite the big run recently, said Ashwini Agarwal, Co-Founder & Partner of Ashmore Investment Management India, on Tuesday.
“We continue to be positively positioned and positively disposed towards pharmaceutical stocks which bottomed out in 2018-2019; 2019 was an okay year but 2020 was very constructive year for them. I still think there is more room for upside there,” he said in an interview with CNBC-TV18.
According to him, the pace of recovery in the Indian economy has surprised positively.
“Liquidity remains constructive, there have been regulatory changes pertaining to real estate which are good for the recovery of this business in a state like Maharashtra. The Reserve Bank of India (RBI) has said that it will keep rates low for as long as it takes for recovery to take hold," he said.
“If rates remain low, if policy environment remains constructive, you could be in for a very strong economic growth over the next 3-4 years,” said Agarwal.
On sectors, he said, “Financials, which we started adding to the portfolio in Q4 of last year (2020), continues to offer a reasonable amount of value. The IT valuations, on a historical basis, are starting to look stretched but the commentary from Tata Consultancy Services (TCS ) indicates that we might be in for a strong earnings momentum in the short run.”
For more details, watch the video
(Edited by : Niral Sharma)
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!
Odisha: Fight of heavyweights in Sambalpur where farmers, weavers hold the key
May 17, 2024 10:22 AM
Lok Sabha Election 2024: What rural Delhi wants
May 16, 2024 10:10 PM
Over 50 onion farmers detained in Nashik ahead of PM Modi's visit
May 16, 2024 11:14 AM
Why Google CEO is cautiously optimistic about the election year
May 16, 2024 9:51 AM