What is Antique Stock Broking betting on now?

89337 Investors following Bharti Airtel. Share this News with them.

0

Like this story, share it with millions of investors on M3

What is Antique Stock Broking betting on now?

While Kirti Doshi of Antique Stock Broking is bullish on Bharti Airtel and ICICI Bank, he also feels that infrastructure space may bounce back but not outperform. Doshi also likes TVS Motor and Jamna Auto in the automobile space.

Post your opinion here

 

0

Tweet

Share on Tumblr

Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See what other experts are saying about markets See what FIIs are saying about the markets See what Udayan Mukherjee is saying about the markets Nifty BSE | NSE 29/05/12 Are Mutual Funds betting on Nifty? Other Stocks in this news ICICI Bank | TVS Motor Company | Jamna Auto Industries |

With optimism creeping into the markets once again, veterans have started suggesting safer bets in these volatile times. In an exclusive interview with CNBC-TV18's Udayan Mukherjee and Sonia Shenoy, Kirti Doshi of Antique Stock Broking spoke about his preferred investment options in what he feels is an 'upwardly moving market'. 

While he is bullish on Bharti Airtel and ICICI Bank , he also feels that infrastructure space may bounce back but not outperform. Doshi also likes TVS Motor and Jamna Auto in the automobile space.

Here is a verbatim transcript of the interview. Also watch the accompanying video.

Q: What do you think it bottomed out last week after that panic selling?

A: Last Friday was one of biggest panic days which we could have seen over the last 9 months. After that panic selling, we have seen the worst and from here we can now go for a really stronger move ahead.

Q: There is lot of talk that this is just a pullback and eventually we will go down and test that level of 5400-5500, you think that is unlikely?

A: The market always climbs on lots of worry and therefore I don't think it is likely to go down. When the worry is too high, the market usually packs in surprises.

Q: It has taken its time to get past that old high of 6350. Do you think that will take little bit longer? Do we need to do more work to get past that?

A: I think there was a worry until yesterday, before the GDP got reflected. With the GDP figures out and once the government sorts out the political turmoil; I am sure they will back business and we may see high as early by March end or April second week. We are very confident that we can see new high by this financial year or maybe in month of April.

Q: What about some of these beaten down sectors, how are you approaching them now starting with Real Estate?

A: I think over there I don't see a large upside as yet. If you remember in 2008 highs, till 5300 high also this sector has not bounced even by 25-30%. With whatever happened in the last 10-15 days in the real estate sector, I think there is still lot of dust that has to settle down but they cannot create large wealth; they can be a trading bet as I see it.

Q: After the correction, if we had to look at large cap names to buy which kind of names would you be accumulating?

A; At Antique House we are bullish on Tata Motors, Bharti, ICICI Bank, Tata Steel. One can even look at BHEL and Canara Bank, these kind of names will bounce stronger than the midcap.

Q: What about infrastructure where many of the stocks like Jaiprakash Associates, HCC got hit badly, would you find value in any of those names?

A; There maybe some value, they will create wealth similar to the 2008 scenario. These stocks can bounce by another 20-30% and for that we require government to really come out with large infrastructure clearance. They have to spend more than USD 200 billion, which has only been in the talks for long but not materialised. Once it happens, I think there maybe few names which can do well in this sector but not the entire sector.