In an interview to CNBC-TV18’s Latha Venkatesh, Anuj Singhal, and Sonia Shenoy, Sandeep Shenoy of Pioneer Investcorp shared his readings and outlook on market and specific stocks.
Watch the interview of Sudarshan Sukhani, Mitessh Thakkar, Prakash Gaba, Sandeep Shenoy and Yogesh Mehta with Anuj Singhal, Latha Venkatesh and Sonia Shenoy on CNBC-TV18.
Judging from the quarterly earnings announcements so far, Shenoy feels earnings growth for the current financial year is unlikely to be around 18 percent estimated by a majority of analysts.
In an interview to CNBC-TV18, Sandeep Shenoy of Pioneer Investcorp says the Nifty is likely to see quite a significant number of downgrades on the back of poor Q4 numbers.
Sandeep Shenoy believes banking index could remain stable compared to other indices as it is an off-sided index with few large players like ICICI Bank and HDFC holding a higher weightage.
According to Sandeep Shenoy of Pioneer Investcorp, new highs are not far away for the market but for the year, it could be flat or marginally negative as capital flow towards India is not seeing much improvement.
Sandeep Shenoy of Pioneer Investcorp is of the view that one may buy IT stocks on declines.
In an interview to CNBC-TV18, Sandeep Shenoy of Pioneer Investcorp shares his views on the market momentum.
Sandeep Shenoy, Executive Director-Institutional –Equities at Anand Rathi Financial Services is of the view that Finolex Cables can double from current levels in the next two years.
Sanju Verma, CEO at Violet Arc Global Managers expects consolidation in the market to continue through November, but doesn't expect it to correct in a big way.
Sandeep Shenoy of Anand Rathi believes IT and healthcare are the sectors providing some sense of solace.
According to Sandeep Shenoy of Anand Rathi Financial Services, Larsen and Toubro is an outperformer.
According to Sandeep Shenoy of Anand Rathi Financial Services, one may avoid Bharti Airtel and prefer Idea Cellular.
Sandeep Shenoy of Anand Rathi Financial Services is of the view that one should stick to Idea Cellular in the telecom space. "Bharti Airtel is going to be traders or more of a largecap punter stock," he adds.
Sandeep Shenoy of Anand Rathi Financial Services is of the view that one may prefer Ipca Laboratories, Unichem Laboratories and Indoco Remedies from the pharma space.
Sandeep Shenoy of Anand Rathi Financial Services advises exiting Tata Steel on rally. "This company has got still lot more pain which could last for 18 more months before stability comes in," he reasoned.
Sandeep Shenoy of Anand Rathi Financial Services also talks about how the Nifty is likely to behave ahead of elections.
Speaking to CNBC-TV18's Latha Venkatesh & Ekta Batra on CNBC-TV18, Sandeep Shenoy, executive director-Institutional Equity, Anand Rathi Financial Services, says the market would have undergone some kind of a correction and the market would see levels between 5900 and 6000.
Sandeep Shenoy, ED-Instt Eq at Anand Rathi Fin Svcs has a positive view on Idea Cellular.
"Once the euphoria of the election results gets passed and absorbed by the market you are going to see a slow and steady profit booking, which could get accentuated in days to come,†says Sandeep Shenoy of Anand Rathi Financial Services
Sandeep Shenoy of Anand Rathi Financial Services is of the view that one may prefer Larsen and Toubro with a trading perspective.
Market will factor whatever is the expected newsflow before 12 noon today itself and want react much on Monday says Sandeep Shenoy. In fact from Monday onward it will focus on PMI, inflation and other such news data.
According to Sandeep Shenoy of Anand Rathi Financial Services, one may bet on Infosys.
Sandeep Shenoy of Anand Rathi Financial Services one may exit steel stocks on bounce.
Sandeep Shenoy of Anand Rathi Financial Services believes that the market is likely to see a time correction given the lack of major triggers. He expects fall of around 5 percent until third quarter earnings arrive.