Abhay Laijawala positive on industrials, infra stocks

Abhay Laijawala, MD & Head-Research at Deutsche Equities India told CNBC-TV18, "We are very positive on industrials and infrastructure stocks. We were going through the Finance Minister speech and we analysed that the word investment was used about 60 times in this speech relative to about 31 times in the July speech and the phrase ease of doing business was used 10 times relative to once in the July speech. So that clearly underscores where this government is coming from."

"They are focusing on investment led growth and look at some of the very innovative decisions that they have made. Look at the proposals for example to launch the national infrastructure and investment front where the government will seed that fund with an equity of Rs 20,000 crore and that can be leveraged many times over at both the central as well as the state levels.," he added.

"That was a very innovative measure and that helps the government fund investment without being confined by the fiscal deficit because that will allow the government to use leverage many times over. So there were many small things for example the governments decision to give out government projects on a plug and play basis, outstanding that reduces risk considerably. Therefore our preferences remain industrials, infrastructure and as a corollary banking," he said.