Ajay Bagga, Market Expert told CNBC-TV18, "Domestic consumption is getting constrained by the rural wage de-growth with welfare schemes being cut back. So, you have to be careful on the consumption side. In manufacturing, you have to be very clear. The low leverage and well integrated players seem to be doing well. The higher branding in the two wheelers seems to have done better than the pure rural plays."
"Even in auto, if you see, we stay bullish on passenger vehicles. There is a commercial vehicle (CV) turnaround coming. Let us see how the results today show that but clearly CV playing would be better off in the NBFC space you will get a bigger bank today given the kind of corrections that have happened. So, those could be a few themes," he said.
"The global play would be IT and pharma. I still remain bullish on both of them. I think they will deliver good returns this year going ahead given the kind of recovery we are seeing both in US and Europe."
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