Moneycontrol
Last Updated : Mar 13, 2019 08:56 AM IST | Source: CNBC-TV18

Upbeat on private banks, auto and cement sector: Kim Eng Securities

"The rally seems to be driven on the back of the immediate announcement and excitement, with the narrative being more towards the return of current government to power," said Jigar Shah.

CNBC TV18 @moneycontrolcom

Jigar Shah, CEO of Kim Eng Securities India, in an interview with CNBC-TV18 shared his views on the market fundamentals and select stocks.

"The rally seems to be driven on the back of the immediate announcement and excitement, with the narrative being more towards the return of current government to power," said Shah.

"The market valuations are not cheap, earnings growth is tardy, plus macro data is not encouraging and domestic flows are a bit down, so one is not sure if the current market rally would be sustainable, but if current narrative becomes stronger then the market could touch previous highs or go higher," he added.

According to Shah, the key aspect of earnings and fundamentals would return after elections, "which will decide the trajectory for market and equity return in the second half".

The house is upbeat on private banks, auto and cement sector.

Source: CNBC-TV18
First Published on Mar 12, 2019 02:19 pm
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