On the day that marks the third anniversary of BJP winning elections with a landslide victory, Porinju Veliyath, MD & Portfolio Manager, Equity Intelligence who has been the biggest bull on Indian stock market and calling Modi win as inflection point for Indian politics and the stock market says stock pickers have made huge wealth to the tune of 200 percent since then. It is almost 4-5 times that of the Nifty.
Value investors are minting money and this will continue for the next 2-3 years, he says, adding that this is a huge opportunity for stock pickers in India.
According to him, if one were to focus on opportunities emerging in the mid and smallcaps, one would think the India equity markets are at the bottom.
Investors should focus on companies that are in the turnaround mode and they can make returns to the tune of 5-10 times, says Veliyath.
He does not see IT and pharma stocks like Infosys, Sun Pharma etc creating huge wealth for investors in the coming years although they could deliver decent returns.
“When there is excitement happening in the economy for the next few years, one should focus only on 5-10 baggers,” says Veliyath.
He believes, India is entering into a golden era, and we should thank the government for their long-term vision and for managing the economy well.
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