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Testing the ATE modules
The issue with that is that most of these themes are not listed, we are talking about listed market right now. Of course there are couple of opportunities, you spoke about them on the Muhurat day also, maybe some of the IT companies which are into e-governance or maybe cyber security that could be the way to play. For listed market if we have to move up from here, what could take leadership because the last leaders were banks and consumption and both of them have seen slowdown off late?
We will have to wait for the judgement over there. I am not sure clearly fast moving consumer goods (FMCG) will not lead the next leg of its bull market because the sales would be bad for one quarter maybe even two quarters, pharma has a bit of a trouble, IT has a bit of a trouble. So what the market is indicating to you -- whether that happens or not, I cannot say -- is that public sector stocks will resume leadership in this market. For example, yesterday five stocks made 52-week highs, four were PSUs and that is a pattern I have seen since demonetisation. So either the market is preparing for privatisation or some big bang reform in PSUs. So if you ask me to stick my neck out and say which sector will lead this market higher, I will say the public sector stocks. The entire basket -- you have to pick and choose which ones. If you look at the new high list, it is consistently showing new highs by public sector owned companies which is very unusual for the stage of this bull market. All the power companies, Engineers India Ltd (EIL), Bharat Electronics Ltd (BEL), Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL) before they corrected. State Bank of India (SBI) is close to its 52 week high, so there is some sort of leadership component in the PSU sectors, I am not recommending them but that is what their market data is suggesting.
The kind of wealth that one has perhaps created in the last 17 years, do you see the same kind of opportunities in the next 17 years?
Opportunities will definitely be multi-fold. The issue is that would you be able to see -- even in last 17 years opportunities had been massive, ITC or Infosys, the issue is could we see that? We could see that and could we bet enough? Whenever we could see the real thing is could we bet enough? So we had a very long discussion with Ramesh Damani on that but it was a massive 17 years, I only hope that in next 17 years opportunities will definitely come, it must pass through our retina and we should be able to bet enough with the experience which we have and with the wealth we have.
What is the next 17 months looking like?
You saw today’s paper? Every single analysis is wrong by huge margin and I am quite sure 17 months therefore again all of us will be wrong. It doesn’t mean that we should not talk about it. Agrawal: You saw today’s paper? Every single analysis is wrong by huge margin and I am quite sure 17 months therefore again all of us will be wrong. It doesn’t mean that we should not talk about it.Agrawal: You saw today’s paper? Every single analysis is wrong by huge margin and I am quite sure 17 months therefore again all of us will be wrong. It doesn’t mean that we should not talk about it.Agrawal: You saw today’s paper? Every single analysis is wrong by huge margin and I am quite sure 17 months therefore again all of us will be wrong. It doesn’t mean that we should not talk about it.Agrawal: You saw today’s paper? Every single analysis is wrong by huge margin and I am quite sure 17 months therefore again all of us will be wrong. It doesn’t mean that we should not talk about it.Agrawal: You saw today’s paper? Every single analysis is wrong by huge margin and I am quite sure 17 months therefore again all of us will be wrong. It doesn’t mean that we should not talk about it.
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