A View on the Markets

A View on the Markets
excerpts from a recent interview of Raamdeo Agrawal on CNBC-TV18


Markets, globally, continue to witness a bout of turbulence leading to massive volatility since the past many trading sessions. However, Raamdeo Agrawal of Motilal Oswal Financial Securities feels the current fall is not alarming yet but he does agree to the fact that the cyclicals have been impacted more by the recent correction.

Concentrating on specific stocks and sectors rather than the global scenario, which, according to him, is unlikely to have any catastrophic impact on Indian markets in the near term, he says he is bullish on public sector banks. "The State Bank of India (SBI) looks attractive from that pack," he adds.


Further, speaking on the road ahead for other sectors, he says the volume growth will remain intact for IT companies. He also believes that the second half of FY11 will be good for cement stocks.

Disappointed by the deferment of the Empowered Group of Ministers (EGoM) meet on oil pricing, he says he expects a firm stand by the government on fuel pricing. “Both upstream and downstream companies will do well on reforms,” he adds.

Concerned about the leverage in telecom companies, Agrawal says he will not buy these stocks at current levels. He is also alarmed by low volumes in the cash market and says paper will be absorbed if price is reasonable.