Nandan Chakraborty, Axis Capital feels the market now is marginally lower than long-term average valuations as India remains an island of hope in a cloudy world.
According to him, exports and capex are vulnerable while consumption is expensive. Thus invest selectively, he advises.
He says top buys in the financial space are large private banks like HDFC Bank, ICICI Bank while HPCL will be key beneficiary of low crude prices.Within the infrastructure space, he likes L&T, Power Grid, NTPC and Tata Motors & Eicher Motors within the auto space.
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