homevideos Newsmarket NewsStrong Q2 earnings can help market build on recent gains: Invesco’s Badshah
Strong Q2 earnings can help market build on recent gains: Invesco’s Badshah
The second quarter earnings season has been a pleasant surprise, said Taher Badshah, CIO–Equities at Invesco Mutual Fund in an interview to CNBC-TV18.
The second quarter earnings season has been a pleasant surprise, said Taher Badshah, CIO–Equities at Invesco Mutual Fund in an interview to CNBC-TV18.
“The markets are taking hope and conviction out of the massive performance that we have seen out of the corporate sector in India in this quarter. We have seen some very stunning numbers across market segments in most sectors. This is something which has surprised as well,” he said.
“It is very surprising to see the kind of performance that corporate India has delivered. It is something which we have never seen even pre-COVID,” he added.
According to Badshah, management commentary and balance sheet improvement bodes well for Indian market. He believes that the Indian market can build on gains hereon.
“This is a rally which has been very sharp and strong and it can always have some punctuations in between, but I guess it could probably build on strength from here. This is now a time where there are traders trying to build, if not quantitatively, at least qualitatively direction to earnings,” he said.
According to Badshah, banking still looks reasonably attractive at current levels. He also sees value in the commercial vehicle (CV) segment.
He further added that any pullback in the two wheeler stocks can be a good entry opportunity. Badshah added that he would look at the pharmaceutical sector on a stock specific basis rather than on a sector basis.
(Edited by : Santosh Nair)
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