See high single-digit volume growth for paint cos: Mavani

The uncertainty around the US Federal Reserve rate hike decision and commentary that would follow have not only impacted the Indian equity market but also global markets have exhibited weakness, says Vivek Mavani, Independent Financial Adviser in an interview to CNBC-TV18.

Global currencies too have shown weakness – in fact, the INR performance has been relatively better than that of other emerging market currencies, says Mavani.

Sector specific, he is upbeat on paint companies where secular growth in terms of high single-digit volume growth will continue. Lower crude prices also have helped these companies, he adds.

Stock specific he is bullish on FAG Bearings because it has continued to grow even though the macro economic conditions on macro side were challenging. In anticipation of uptick in the economy, they already have increased capacity, says Mavani. He expects earnings to accelerate and see growth 24-25 percent year on year.