Manish Sonthalia, Head Equities- PMS, Motilal Oswal Asset Management says pharma and IT stocks look very cheap. He is negative on NBFCs and says growth rates are bound to come down. He likes the current valuation of PSU banks.
"Calendar year 2017 overall is going to be a tough year," says Sonthalia.
He says a downside in the market is more likely after the upcoming Budget is announced.
Pharma, banks and IT stocks look very cheap, he says. He is negative on NBFCs and says growth rates are bound to come down.
Watch video for more.