Expect further upside in FMCG space: G Shah

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Expect further upside in FMCG space: G Shah

Expect further upside in the FMCG space, says Gautam Shah, CMT, VP Financial Services, JM Financial.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Gautam Shah See what other Experts & Brokerages are saying about ITC See messages about ITC BSE | NSE 10/02/12

Expect further upside in the FMCG space, says Gautam Shah , CMT, VP Financial Services, JM Financial.

Shah told CNBC-TV18, "FMCG had a dream run in the recent past. The index is at a lifetime high. I think there is further upside in the FMCG space. It might not outperform the other sectors because it is not a high beta space therefore you don't see big moves of 10% on ITC on a daily basis. So you will get your conservative 15% upside in the FMCG space over the next few months."

He further added, 'The big mover in the market, the leader for the market going forward has to be oil and gas. I think you have two index heavy weights in that space and these two stocks would help the Nifty move to levels of 5,550 which is our medium-term target. I would be aggressively recommending this sector for a short, medium and long term because I see 5% downside and maybe 40% to 50% on upside."