Jigar Shah, CEO of Kim Eng Securities India, in an interview with CNBC-TV18, shared his views on the marketplace fundamentals and preferred shares.
“The rally appears to be driven on the return of the immediate announcement and exhilaration, with the narrative being extra toward the return of current authorities to electricity,” stated Shah on Tuesday.
“The marketplace valuations aren’t cheap, earnings growth is tardy, plus macro statistics are not encouraging, and home flows are a piece down, so one isn’t always certain if the current marketplace rally could be sustainable. However, if cutting-edge narrative turns stronger, the marketplace should touch preceding highs or move better,” he said.
According to Shah, the critical thing of profits and fundamentals could return after elections, “on how to decide the trajectory for market and equity return inside the second half of.”
The residence is upbeat on private banks, vehicles, and the cement sector.
