IT, pharma, and MNC stocks are the order of the day, Ajay Srivastava, CEO of Dimensions Corporate Finance said
India is no longer a preferred economy to invest in, Ajay Srivastava, chief executive officer of Dimensions Corporate Finance told CNBC TV-18.
"Investors have already spoken with their cheque books, we have not seen major inflows. Internationally, India is not in the top five list of investing locations at this point of time, no mutual fund manager is overweight on India, this is not the flavour of the market, this is not what is going to work in the next 12 months," Srivastava said.
Srivastava, however, added, a silver lining is that the private equity sector is still interested in India.
Commenting on the non-banking financial companies, he said the top five to six companies will now trade at a premium when compared to the other 10 to 15 NBFCs in the sector.
Notwithstanding the panic in the market, Srivastava said he will buy Yes Bank since the Reserve Bank of India has not said anything yet on the company.
IT, pharma, and MNC stocks are the order of the day, Srivastava said."IT stocks are exposed to the US market. They will do tremendously well. I don't think you'll see a problem in the IT sector in the next one-two years. You'll see a lot of traction," he said.