First half earnings to spring +ve surprises; like Infy: Bodke

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Ajay Bodke of Prabhudas Lilladher in an interview to CNBC-TV18 spoke on expectations from the upcoming earnings season and stocks/sectors they like.According to him earnings in the fourth quarter are likely to be tad better than that of third quarter, and the first half of earnings to spring some positive surprises.He is positive on the private sector retail focused banks like IndusInd Bank, HDFC Bank. Moreover the pain seen in the PSU banking space has been discounted by the market.With the government is addressing issues pertaining to the three key sectors – steel, the road sector and gas based power sector, which could bode well for the companies and the PSU banks that have given loan to these companies.He also expects both the IT and pharma to perform well in this quarter. Infosys remains a top buy for him in the medium-term. According to him one should not read too much into selling seen in the stock. The company earnings are likely to grow 17 percent FY17 and 14-15 percent in FY18. He also has full faith in Visha Sikka and expects the company to move the value chain.From other spaces he is upbeat on ACC from cement space and JK Lakshmi from midcap space.Transcript to follow