The market ended the financial year with phenomenal highs. Will it be possible to have much higher all-time highs next year too? Mehraboon Irani Nirmal Bang Securities believes that market is on a wicket where playing on a front foot makes more sense than playing defensive.
Money will continue to flow into the market, so distinct possibility of the market reaching highs in FY18 with financial services sector leading the up move, says Irani.
Moreover, if there is a decent solution for NPA issues then even the laggards in that space will start performing, says Irani.
Metals and oil and gas, the average performers in FY17 have started showing improvement and will show further improvement as far as earnings go, believes Irani.
According to him, large part of the money is still on the sidelines waiting to enter at corrections.
Sector specific, Irani says it’s better to stick with spaces that are going to benefit and are already doing well. For example talking about the paper industry, he would prefer to bet on Ruchira Paper with target of Rs 200 and cement it would Dalmia Bharat and expect Rs 2500-3000 in the next three quarters.
With the government’s thrust on digitization, Sterlite Technologies would be a good buy. He also liked Quess Corp, which is likely to see levels of Rs 900-1000 in next 2-3 quarters, says Irani.
In the same interview, SP Tulsian of sptulsian.com, Mitessh Thakkar of miteshthacker.com, Prakash Gaba of prakashgaba.com and Dipan Mehta, Member BSE & NSE spoke on the stock specific action.
For the entire discussion, watch video
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