So, 2019 was one of the best years India had prior to COVID. Then COVID happened and now in 2023 we have had a remarkable recovery.
So, 2019 was one of the best years India had prior to COVID. Then COVID happened and now in 2023 we have had a remarkable recovery.
According to Anand Tandon, the AMC space was always an asset gathering space more than a performance space and now it will become even more so because as commission edges go away, the smaller players will have a tough time trying to get in. Tandon further says, HDFC Bank will continue to gain market share once the technical factors are out of the way.
I think aviation is our biggest bet at this point of time. Next bet is the hotels at this point of time. We are into the biggest bet. Third, what we continue to be bullish is infrastructure, defence stocks which have been there, have not added anything in the last one to two months, nothing, zero, but the old holding continues.
Independent analyst Anand Tandon says that slightly out of fashion stocks like HDFC merit a relook given that it has eased off because of technical action. He further says one of the major themes to look for in the second half is rural India driving some of the demand growth assuming that the monsoon is not a total disaster. One can also be looking at markets outside India.â€
​So therefore, unlike a telecom landscape where there was an entry of a person who is just rolling money out, did not care about shareholder returns, and you have seen what happened to Reliance shareholders, they never got a return out of the company of a decent kind compared to where market has gone at the end of the day.
Those interest rates have risen so much, inflation at least core inflation still remains sticky. So, they have got their own domestic economic problems. The US also faces re-elections next year. So they really do not need geopolitical tensions to continue to escalate and I think that is what both sides are seeing.
​And within the asset allocation whatever you have put in equities is either managed through a PMS or a mutual fund or if it is being done directly, then the stocks are the ones in which you have done your research or you have used somebody's help to do research.
​And while we do all of this, we also focus on cash flow generation and capital efficient policies of the company. And​finally, the valuation filter comes in.
“One year back, we were underweight IT, but now we are most bullish on the IT sector†says Vivek Sharma - Director (strategy) and Head of Investments at Gulaq, a part of Estee Advisors.