Bernstein expects the Indian equity market to consolidate following the recent sharp upmove, Venugopal Garre, Managing Director, told CNBC-TV18.
“We are not calling for a big correction as yet. But directionally, how things might pan out is, this consolidation phase could last for a slightly longer period of time before we start to see the next upward resumption,” Garre said.
On new-age listings, he said, “The listing spree is not going to stop. We are going to see that intensify over the next 2-3 years. The way we look at a lot of these companies coming in is that we are positive on the overall digital opportunity because we see this as the next 10-20 (years) future for India, and the entire digital listings, the relevant one could account for more than 20 percent of the market a decade later.”
According to him, there is tremendous opportunity in the edutech (education technology) space. “We are primarily looking at businesses where they have a strong market positioning within their respective sector and we do not see too much competitiveness impairing that opportunity. So, what it primarily means is that in each of the end markets that are going to develop over a period of time, it could be e-commerce or e-commerce logistics or in edutech or hospitality,” said Garre.
For the entire interview, watch the video