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Bull cycle for commodities; positive on Guj Gas, JSW Steel, JSPL: MOFSL's Siddhartha Khemka

Updated : February 22, 2021 02:52 PM IST

Siddhartha Khemka, Head-Retail Research, Business Development at Motilal Oswal Financial Services discussed the fundamentals of the market as well as various stocks.

Khemka likes companies like Gujarat Gas where the volume growth is picking up at par with some of the other players.

“Valuation is still at a discount with Indraprastha Gas Ltd (IGL). Hence we believe that Gujarat Gas is well-positioned to continue to attract investor’s interest,” he added.

According to him, we are in the bull cycle for commodities. “We continue to remain positive on the overall commodities. For some more time, we believe that the prices, as well as the margins on back of higher realization, would continue for some more time,” he said.

“Within the ferrous space, we like something like JSW steel and our preferred pick would be Jindal Steel and Power Ltd (JSPL). We believe that there is a decent upside there. Within the non-ferrous space we like Hindalco as our preferred pick there,” he added.

On Gland Pharma, he pointed out, “There is still room for further upside. Currently, we have a target price of Rs 2,700.”

Speaking about clean energy, he said, “We have been quite positive on the overall clean energy theme for quite some time and this is where we have seen the volume growth picking up on the entire gas market as a whole.”

In terms of the tax regime, he mentioned, “Currently it is a very complex structure where various states charge various kind of value-added tax (VAT). Bringing natural gas under the goods and services tax (GST) regime will make the entire tax process a much simpler process which will bring ease of doing business. It will boost volumes for the industrial segments.”

For more, watch the video

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