New highs for market not far away: Pioneer Investcorp

In an interview with CNBC-TV18’s Sonia Shenoy and Latha Venkatesh, Sandeep Shenoy of Pioneer Investcorp shared his outlook on various stock specific bets and where the market is headed hereon.

According to him, new highs are not far away for the market but for the year, it could be flat or marginally negative as capital flow towards India is not seeing much improvement.

For a marginal outperformance, he feels investors must stay invested in the cement space. However, investors must avoid top 3 companies and dig deeper.

Going ahead, he believes that although private banking space is getting crowded by too many investors vying for a bigger pie, it will gain more than PSUs in the second run.