Vibhav Kapoor of IL&FS says that the market is faring very well and that the market should hit new highs soon.
Going into result season, he says that Q2 results will be very good, and the advance tax numbers released, clearly point towards that.
According to him, sectors that depend on the domestic economy, like cement, banks, capital goods and engineering, amongst others, will do very well.
Excerpts from CNBC-TV18's exclusive interview with Vibhav Kapoor:
Q: How are you feeling about the market and where do you expect it to go before we hit earnings season?
A: The market looks good. It has been doing well over the past few days. We have been pretty bullish on it for quite some time and I think we are going to hit new highs sooner or later. It is of course difficult to time when that will happen but new highs are very much on the cards.
Q: Last afternoon we had the advance tax figures coming in with a very positive surprise. Which are the segments that you would focus on given those numbers?
A: We have always maintained that the second quarter results are going to be very good, and I think the advance tax numbers seem to point towards that. YoY growth is also expected to be very robust.
The sectors, which are more dependent on the domestic economy are really going to do well. Therefore, one should focus on sectors like cement, banks, capital goods and engineering.
Q: Dewan Housing was pretty much on top of the list of buzzers that we had in yesterday's market. What are your views on how that stock has been behaving for the last couple of sessions and the possible news of them picking up stake in HDIL (Housing Development & Improvement India Ltd)?
A: Housing company stocks are doing well. I haven't really tracked Dewan Housing specifically ,so I wouldn't be able to comment on it. But the sector as a whole looks pretty good.
