 Avoid interest-sensitive stks till policy meet: Kotak SecPublished on Mon, Jul 28, 2008 at 14:08 | Source : CNBC-TV18 Updated at Tue, Jul 29, 2008 at 13:37 Like this story, share it with millions of investors on M3
Excerpts from CNBC-TV18's exclusive interview with Kunj Bansal:
Q: The market is in a kind of a directionless mode. Would you be reassured that we have seen the bottom for 2008 or is it uncertain? A: It's a difficult call. In the last one-week; three major events happened. Firstly, there is political stability in the country again. Secondly, the international markets have corrected about 15% and thirdly the monsoons are back. All these factors together has contributed to this rise. The markets have been in sync with the international markets, so I would keep a keen eye on the international developments. Q: We are nearly at the end of earnings season, what have you made of the earnings so far? A: They have been broadly in line. The percentage of negative surprises and positive surprises this time are balanced, whereas earlier it used to be more of positive surprises or positive growths.
Q: How are you interpreting the picture going forward, are you looking at further paying in FY10 or would you be buying them later on in the year? A: This slowdown impact in companies could continue. Whether this would come in their pricing, or has it come in will have to be seen separately. Q: Given these earnings season are you a buyer in any sector, in any stock. What has impressed you enough despite the slowdown to be a good buying candidate? A: We are selectively buyers. We are buyers in natural resources, metals, power, pharma and FMCG. Q: I noticed that you are not referring to any of the interest rate sensitives none of the banks, realty? A: Not till the policy announcement on July 29. We are not bullish on these sectors right now.
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