According to Alroy Lobo, Chief Strategist and Global Head, Equities Asset Management-Kotak Mahindra Asset Management Company, the telecom sector is offering buying opportunity.
Lobo told CNBC-TV18, “I would say that we are seeing pockets of valuation emerging in various sectors. Clearly the telecom sector is one sector which has been impacted not only for fundamental reasons but other reasons; so that’s offering you a buying opportunity. Cement has been an underperformer for quite some time. We see that emerging in the second half of this year.”
“I think tech sector as seen in the first results of Infosys coming in, there could be a correction in the sector and lower valuations will be also favourable looking at that sector. The pharmaceutical sector continues to be a sector of our choice to play not only the currency but also to play the fact that growth in India would be at a premium. And this is one sector which will continue to demonstrate growth characteristics. In banking, we are still biased towards private sector versus public sector companies,” Lobo added.
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