Dipan Mehta, Director, Elixir Equities, remains negative on the Indian aviation space as he believes there are many headwinds for the sector.
“From every angle that I look from at the aviation company (space) - we remain negative and no doubt there is consolidation and the largest player, InterGlobe Aviation (IndiGo), has gained market share but the overall pie has definitely shrunk,” he said in an interview with CNBC-TV18.
“There are many headwinds as far as Indian aviation is concerned. Not to forget the fact that large number of planes have been ordered by the existing airlines. So capacities also will move up for the next two-three years or so,” he said.
According to him, valuations on paint companies still remain high and one correction is not going to change that. "Existing investors can certainly remain invested. Keep these stocks in your watchlist. If you see a steep correction in the market in these stocks, that will be a good entry point but not at current levels,” he said.
In terms of IT sector, he said, “Amongst the largecap IT stocks, I am positive on Infosys. Dark horse will be Wipro. Very positive on largecap and midcap IT.”
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