One still needs to be choosy while picking the rate sensitives, says Sanjeev Prasad of Kotak Institutional Equities. In an interview to CNBC-TV18, Prasad picks retail banks and the IT space as safe bets from the rate sensitive sectors.
Although, interest rates are believed to be stabilising, Prasad says the banking space faces issues on the non-performing loans (NPLs) front. Picking top bets like HDFC Bank and IndusInd Bank, he says banking stocks with large exposure to the infrastructure sector are an avoid. "I also like M&M Financial, Shriram Transport, LIC Housing and Muthoot," he adds. Meanwhile, on the IT space, Prasad says prefers TCS and Infosys over HCL Tech at current levels. He also finds RIL and ONGC attractive at the current valuations. Dismissing any possible short-term trigger, Prasad says RIL is a smart pick from a 9- to 12-month point of view. He also adds that RIL needs to cancel treasury shares to boost the market sentiment.Below is an edited transcript of Sanjeev Prasad's interview to CNBC-TV18. Also watch the accompanying video. Q: What is your sense of where the market is placed at right now
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
