Fundamental market expert SP Tulsian of sptulsian.com shared his views and outlook on different sectors like NBFCs, banks and IT in an interview with CNBC-TV18.
Talking about NBFCs he said, “Two sectors have taken a hit today, one is NBFC and second is a consumption. In NBFCs, probably the cost of funding is seen to be becoming quite costly and maybe that has something to do with the risk aversion and interest rates rising, which could be negative for them. Secondly, the stocks have also risen quite a lot in this last couple of weeks, he added.
On the banking space, he said, “My pecking order probably would be State Bank of India (SBI), ICICI Bank, Axis Bank and HDFC Bank and if one wishes to enlarge the list then the fifth name could be IndusInd Bank.
While giving his take on IT stocks he said, “Definitely, the slowdown in the economy will have an effect on the IT stocks and so they have been trading weak for last 2-3 days. Tata Consultancy Services (TCS) and Infosys had been the technical trades for hiding but that has not been the case for last 2-3 days. "So, probably the fear of this slowdown and also the guidance having taken away by the likes of Microsoft, Apple or other biggies in the US, which is seen as an indication that they maybe looking at a big slowdown or things getting derailed at Indian IT companies as well, said Tulsian.
In the telecom space, it is likely that only two strong players will exist that is Reliance and Bharti. So, existence of the Reliance Industries is very much seen to be profitable on both the verticals that is retail and telecom. Looking to the telecom vertical, as of now Reliance Industries holds a lot of potential and promise.”
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