Sunil Singhania of ABBAKKUS ASSET MANAGEMENT spoke to CNBC-Awaaz on the budget, forward movement and direction of the market and said that the budget is quite good. If 50-60 percent of the budget is also implemented, then the economy can change significantly and change. Budget growth is oriented, the market has also liked this.
Talking about the forward movement and direction of the market, Sunil Singhania said that the market has run out. Many stocks have become quite expensive. But the market is still very powerful. It can be seen in the IT sector further. Due to Kovid, IT spending has increased all over the world and will see an increase in it even further. IT companies will get the benefit of digitization.
Sunil Singhania is of the opinion that there are opportunities for investment in corporate banks, invest in strong stocks of this sector. Sunil Singhania, without naming any bank, said that PSU Bank has the country’s largest public sector bank in their investment list. In addition, he followed the compliance rules giving a clue to the name, saying that another PSU bank which had recently brought a big QIP is in their investment list.
Sunil Singhania says that from a long-term perspective, these are good bets for investing, companies are good. Further, there will be a strong boom in the auto. Auto shares will benefit from scrap policy. They will also get the benefit of cheap loans. Sunil Singhania is more bullish on commercial vehicle and tractor shares than the passenger. Due to EV in passenger shares in autos, there may be a big reversal, so companies who make passenger cars need to be cautious. Tesla’s move to India will put pressure on the sector to change.
Q3 results are coming out awesome. Economy-related stocks continue to grow. However, domestic investors are booking profits. There are several reasons for the growth of the market after the budget. For 3-4 years the entire focus is on the economic sector. Growth will increase even after achieving the 50 percent target of the budget.