Time to look at global markets for investment, says Ajay Srivastava

In an interview to CNBC-TV18, Ajay Srivastava, CEO of Dimensions Corporate Financial Services, shared his reading and outlook on markets, specific stocks and sectors.

Speaking about his 2020 outlook, Srivastava said, "We consciously need to remove our focus from Indian markets and move to global markets. The US has done well and should be considerably better than last year, that is one."

Srivastava also feels that it might be time to go a little more defensive on the domestic front.

"Look for companies with monopolies, look for the larger sized companies. Even in the midcap space look for companies which have got a size of Rs 2000 crore and above. Theme-wise nothing changes, very boring but allocation-wise we are now moving towards a stage where we would think that we need to do a lot more allocations to global markets than the Indian market," he said.

On the forthcoming budget, he said, "Personal income tax cut has to come because you can't get on a backdrop of such a large corporate tax cut and not give something to the common market. Given the political compulsion, something has to follow through. You need to focus on what is happening at the ground level. If you look at the 4-5 pillars of the Indian economy - MSMEs, gems and jewellery sector, the handicraft sector, the garment sector, the leather industry, those are all struggling for traction for various reasons."

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