Cabinet reshuffle indicates govt's intent of development & growth: Rajat Rajgarhia

Cabinet reshuffle indicates government’s intent of development and growth, said Rajat Rajgarhia, MD-Institutional Equities at Motilal Oswal Securities in an interview to CNBC-TV18's Nimesh Shah at the Motilal Oswal Global Investor Conference which is underway in Mumbai.

He is very excited that performers are elevated in cabinet reshuffle.

According to him railways and defence ideas look more positive post cabinet reshuffle.

Speaking about the conference and on market front, he said that he is disappointed with earnings and is looking for turnaround stories like Reliance Industries.

Rajgarhia sees newer and newer plays coming in the market via initial public offerings (IPOs).

Started seeing volume growth across auto segments after a long time, he added.

According to him, autos are also part of the Indian consumption theme.

He also sees a lot more upside in oil marketing companies (OMCs).

Watch accompanying video for more details.

Disclosure: Network 18, which publishes moneycontrol.com, is a part of the Reliance Group.