Comfortable buying Nifty with a 1-2 year time frame, says BoB Capital
Ratnesh Kumar, MD & CEO of BoB Capital Markets, spoke to CNBC-TV18 about the fundamentals of the market. Kumar said he would be comfortable buying the Nifty at the levels of 11700 for the longer term with a timeframe of one-two years.
Ratnesh Kumar, MD & CEO of BoB Capital Markets, spoke to CNBC-TV18 about the fundamentals of the market. Kumar said he would be comfortable buying the Nifty at the levels of 11700 for the longer term with a timeframe of one-two years.
"Earnings recovery, which started in FY19, will gain momentum in FY20," he said adding that sectors like corporate banks are coming off a trough.
Talking about the ferocity of the current rally, he said, "The run has been driven by opinion polls indicating a stable government and foreign flows coming in, he said. So, near-term there could be some ups and downs depending on newsflow."
According to Kumar, "The market will be led by banks, specifically corporate banks and outside of that, it would be urban consumption in terms of home improvement. Meanwhile, other cyclicals like capital goods and infra it would take a long time before they come back in a meaningful way."
With regards to autos, he said, "On an overall basis, the numbers would be on a slow track for a couple of more quarters. Liquidity is getting better and there could be a rate cut, which will benefit the auto space. However, it would take some more time for it to pass through and be witnessed in auto numbers."
First Published: Apr 2, 2019 10:15 AM IST
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