In an interview to CNBC-TV18's Latha Venkatesh and Sonia Shenoy, Sanger said India's structural advantage can help drive growth, in turn attracting the attention of global money managers.
Geosphere Capital Management's Arvind Sanger sees the Nifty closing in on 8000 pre-Budget in anticipation of policy reforms. In an interview to CNBC-TV18's Latha Venkatesh and Sonia Shenoy, Sanger said India's structural advantage can help drive growth, in turn attracting the attention of global money managers.
He said select oil and gas shares can rise 20-25 percent from these levels if the government clarifies on its energy pricing policy. HPCL , BPCL and ONGC are the stocks he is bullish on. Sanger said he will advise investors to increase exposure to the sector if a decision on gas pricing is taken soon.
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Sanger said he has been buying midcaps for the last few months and thinks they are still a good bet because the risk-reward ratio is not too high.
He is advising investors to be cautious about what they buy in the run-up to the Budget as he expects a sell off after the event.
On global developments, Sanger says the European Central Bank's latest move of negative interest rates is unlikely to boost growth in Europe.
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