Pankaj Murarka of Renaissance Investment Managers discussed the fundamentals of the market.
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"The market might consolidate or pause for a while. However, the direction or the trend of the market remains intact that we remain in a bull market,” he said.
According to him, the growth outlook for India remains pretty strong. “It took us 10 years to double Nifty earnings between 2010 and 2020 and we will achieve the same in the next three years if you take 2021 as a base. So Nifty earnings will double between 2021 and 2024. Given that outlook, the market should continue to do well,” he explained.
He is bullish on consumer stocks. “I think once the second wave of COVID-19 tames down, probably over the next couple of months, things would recover pretty quickly. The exhibitors like PVR or Inox or the hotel industry or hospitality or the consumer discretionary all of them will bounce back pretty strongly. Towards the second half of the year, we will see a very strong resurgence in consumer spend and consumer demand. So we are very bullish on all these names,” he stated.
Murarka believes Q4FY21 is going to be a strong quarter for all the IT companies. His outlook for the IT sector continues to remain strong and he expects further earnings upgrades in the sector. “We will continue to have earnings upgrades for the IT sector going forward,” he pointed out.
For the full interview, watch the video.