Even though the sector has been a rank underperformer in the past, Indian telecom stocks are very attractive from a three-year perspective, according to S Naren, Executive Director at Chief Investment Officer at ICICI Prudential.
S Naren likes the telecom space due to the current valuations for long-term. He also likes power industry, where he expects a 5-7 percent increase in power consumption in India every year.
However, S Naren, ICICI Pru believes demonetisation is near-term pain for long-term gain and does not expect February lows of 6900-7000 to be tested.
The best investment decisions are taken during bubbles & bursts, said S Naren, CIO, ICICI Prudential AMC.
Defying other market experts, S Naren, ICICI Prudential AMC is of the view that the correction that is seen in the marekt, post the Brexit, is in fact a buying opportunity, which should prevail for a few more days.
The disclosure follows a diktat from markets regulator Securities and Exchange Board of India (SEBI) to all fund houses to disclose their respective top-management salaries.
Watch Mumbai Edition of Investor Camp where CNBC-TV18's Anuj Singhal & Sonia Shenoy discussed market and specific stocks at length with experts like S Naren, CIO at ICICI Prudential AMC and Prakash Diwan, Investment Evangelist, www.prakashdiwan.in.
The upturn in oil prices bodes, which will likely continue for the year, bodes well for equities, says ace fund manager Sankaran Naren, CIO of ICICI Prudential AMC.
S Naren, CIO of ICICI Prudential AMC, says this year is not for traders but for long term investors, particularly from mutual fund point of view.
S Naren of ICICI Prudential AMC pointed out that whenever foreign institutional investors have been big sellers due to global reasons, each time it has provided a buying opportunity for domestic long-term equity investor.
The participants of Cafemutual Confluence 2015, a panel discussion with fund managers, include S Naren of ICICI Pru, Anoop Bhaskar, head-equities at UTI MF, Anup Maheshwari, DSP Blackrock Investment Managers, Prashant Jain, ED & CIO, HDFC MF and Gopal Agarwal, CIO, Mirae Asset Investment.
The best time to invest, S Naren of ICICI Prudential says, is when there is blood on the dealing street and the recent correction in the market has provided that he adds.
S Naren, CIO at ICICI Prudential AMC, says at this point in time, a lot of cheap sectors/ stocks have near-term outlook constraints. Citing upstream oil companies as an example, he says they have very low margins today, but going ahead they will do very well.
Birla Mutual Fund's Mahesh Patil said the current weakness in the market was due to a delayed economic recovery. He, however, expected corporate earnings to grow 15-20 percent this year.
Naren says a bigger concern is that the investment cycle in the economy is not picking up, and this sluggishness could persist for the next six months
The cumulative cut of 50 bps by RBI at the start of the year gave a huge boost to the debt market. Given the perfect setting of most of the macro-economic indicators another 50 bps of rate cuts seem to be likely for the rest of the year.
S Naren of ICICI Pru AMC says domestic growth will begin to unfold from the second part of the fiscal. However, if global correction happens, India will be caught in it. That, however, does not take away the fact that India's long-term story is sorted.
The companies which have borrowed are all set to become big gainers as interest rate cycle comes down, says S Naren, CIO-Equities, ICICI Prudential AMC.
The majority of the street was expecting a dovish policy with a chance of a rate cut. However, equity market tanked after RBI Governor Raghuram Rajan announced a neutral policy with a mildly hawkish tone.
The market is now presenting an opportunity to invest for the long-term in sectors like IT, metals, banks, telecom etc, says S Naren of ICICI Prudential AMC.
In an interview to CNBC-TV18, S Naren says commodities look attractive with a longer-term view as India is gaining over USD 3 billion per month due to fall in crude prices.
S Naren, CIO - Equities ICICI Prudential AMC, however, is more bullish on debt mutual funds than small or midcaps from a one-year perspective.
S Naren, CIO, equities, ICICI Prudential Asset Management says cyclicals and small and midcaps are far better investment opportunity for the medium to long-term.
In an interview to CNBC-TV18, S Naren CIO Equities, ICICI Prudential AMC shared his views on the market and how one should approach it now.
According to S Naren, CIO of ICICI Prudential AMC, one can hide in PSU stocks (cash rich PSUs) as they are exceptionally cheap now.