Taher Badshah of Motilal Oswal AMC says if the market is to see significant highs then sectors such as banks and oil and gas need to participate. These sectors can even see revival of credit growth going forward, he adds.
Post the Supreme Court judgement on coal mines, metals and power companies took a beating on the bourses. But Taher Badshah of Motilal Oswal AMC is not worried as he has no investments in metal stocks as of now. He says metal companies such as JSPL will see more direction post September 1 notification.
He expects to see further strength in the market on the back of reducing uncertainties on the macro front. Improvement in global cues can also push the market to higher levels. But, he adds, if the market is to see significant highs from current levels then sectors such as banks and oil and gas need to participate. He believes these sectors can see revival of credit growth going forward once the much-awaited policy action in oil and gas – gas price hike – comes through, along with the ONGC issue, among others, he adds. He believes the banking sector has more upside room.
Badshah says he sees all-round growth. He believes incremental gains will come from defensive sectors such as IT and phama, along with discretionary and non-discretionary.
Stay tuned for more…
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