homevideos Newsmarket NewsWill auto stocks sustain the rally? Here's what Taher Badshah of Invesco MF says
Will auto stocks sustain the rally? Here's what Taher Badshah of Invesco MF says
The rally in the automobile stocks was a bit sharp but was quite expected since they were significantly beaten down, according to Taher Badshah, CIO - Equities, Invesco Mutual Fund.
“This is one sector from where we have seen positive management commentary out of this result season and stocks have responded to that. However, we will have to access as to how volumes trend in non-festive season. Reduction in inventory level is also positive,” said Badshah in an interview with CNBC-TV18.
Badshah said that the stocks have moved up sharply but valuations are not easy across companies. "It would be advisable to wait and watch," he said.
He is of the view that the market is seeing some positive traction around some of the reform measures undertaken by the government in the recent past.
When asked about the IT space, he said the firm has a fair bit of largecaps and midcaps in the portfolio and has a balanced approach towards the sector. “Among the largecap IT, we have a decent amount of ownership in Infosys and TCS and also well positioned in some of the large midcap IT. We are there across the spectrum and we are overweight on whatever we buy,” he added.
With regards to insurance space, he said overall there has been a preference for platform-oriented companies.
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!
BJP is planning to ban RSS, says Shiv Sena (UBT) chief Uddhav Thackeray
May 18, 2024 8:01 PM
Punjab Lok Sabha elections: Complete list of Congress candidates
May 18, 2024 4:08 PM
Punjab Lok Sabha elections: Check full list of AAP candidates and constituencies
May 18, 2024 12:59 PM
PM Modi, Rahul Gandhi election rallies in Delhi today: Here are the routes to avoid
May 18, 2024 11:28 AM