The Budget 2021 came as a pleasant surprise to us and to D-Street as well which clearly suggests that India needs business and bold enough to boost growth, but execution remains to be the key, S Ranganathan, Head of Research at LKP Securities said in a ‘D-Street Talk’ podcast with Moneycontrol.
“The Budget 2021 was indeed a pleasant surprise from all the earlier Budgets. It had the intent, the purpose, and an attitude which I think clearly signaled to investors both domestic and foreign that India means business,” says Ranganathan.
Commenting on the risk to the sharp rally that we have seen in the market post the Budget, Ranganathan highlights that although there is no devil in the fine print, execution remains to be the key.
“The Budget is bold enough to go for higher market borrowing even though some of the skeptics may argue on the fiscal deficit front. When you have such an agenda it will take all the sectors higher,” highlights Ranganathan.
In terms of stocks to focus on for the next decade, Ranganathan recommends banking space and within that one can look at 4 large private sector names both retail as well as corporate, and two large public sector names.
“Investors can also focus on top FMCG companies, Insurance, pharma, Insurance companies as well as well managed NBFC can also be part of investors’ portfolio for the next decade,” he added.
(Tune in to the podcast for more)
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