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The Nifty is seeing some pressure in May after a strong six percent rally in April thanks to macro headwinds. This is causing a bit of volatility on D-Street, Ratnesh Kumar, MD and CEO at BOBCAPS, said in an interview with CNBC-TV18.
He likes midcap names in the consumer segment. Among domestic cyclicals, he advises a play on automobiles, cement and construction as the year progress. “Investors can look at stocks from the homemaking space like consumer durables, appliances, electrical goods etc are some themes which are in a secular growth phase.”
He likes autos as the sector will benefit from the rural aspect as well as a recovery in consumption.
The NBFC space has not caught Kumar’s fancy. “In an environment of rising interest rates, it will be tough for NBFCs to gather market share away from private sector banks. Also, valuation of most NBFCs look stretched.” Within financials, he is positive on retail-focused banks.
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