Govt reforms will be cemented in FY18: Motilal Oswal Sec

Rajat Rajgarhia of Motilal Oswal Securities, said India has been a classic bottom-up stock-picking play. “Pick the right stock and if the market does well, it will do well.” He also commented on the speakers at the Motilal Oswal's 12th Annual Global Investor Conference between August 29-31 and said everyone who spoke had a positive outlook about their own businesses and economy.

He also said that for every investor who is turning cautious on India, there is one who is turning positive. He is hopeful that there are enough stocks in the market that can keep compounding. He estimates earnings to grow by 18-29 percent this fiscal year.

Gautam Duggad of Motilal Oswal Securities, said that he doesn’t see a universal trend for upgrade or downgrade. Some sectors are seeing a revival, while some others will take a few quarters, he said. Some reforms have been passed like OROP and Seventh Pay Commission. The positive trend and reforms will be reflected in the second half of this year and will be cemented in FY18, he said.

“We see more impact on discretionary items than staples because of Seventh Pay Commission. Sectors like white goods space should see a good pick-up, he said.