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videos | IST

It’s a pro-growth budget; domestic sectors to do well: Alchemy’s Hiren Ved

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Speaking to CNBC-TV18, Hiren Ved, Director, CEO & CIO of Alchemy Capital Management said, “This is a pro-growth budget and with great emphasis on investing in capital expenditure on infrastructure, I think that the domestic-oriented sector are definitely likely to do well whether its financials, consumer discretionary, metals, private banks or NBFCs.”

Finance Minister Nirmala Sitharaman presented the Union Budget 2021-2022 on Monday, which the market experts hailed terming it a growth-oriented and an expansionary one.
Speaking to CNBC-TV18, Hiren Ved, Director, CEO & CIO of Alchemy Capital Management said, “This is a pro-growth budget and with great emphasis on investing in capital expenditure on infrastructure, I think that the domestic-oriented sector are definitely likely to do well whether its financials, consumer discretionary, metals, private banks or NBFCs.”
“I think the domestic economy is likely to do well and it looks like everything that is cyclical and digital is likely to do well,” he said.
According to him, the large private financials will continue to do well.
Meanwhile, market veteran, Madhu Kela said, “It looks like a typical bull market correction, which was very swift and sharp. The event (union budget) is out and the market has corrected, but there is absolutely no doubt that we are in a clear bull market and hopefully it should continue in the medium to long-term.”
For entire discussion, watch the video