Sindhu Sameer, h, shared his reading and outlook on specific stocks and sectors, in an interview to CNBC-TV18.
Speaking on the mood of investors and companies participating in the Emkay Conference, he said: "If you talk to the companies which have attended our conference and a wide section of investors, it is a sense of guarded optimism, there is no euphoria. It is a stock picker's market and I am not using it in a clichéd manner, that is straight from the heart. That is what I get to know from the companies which are participating and the investors both."
On auto sector, he said: "The slowdown is real, the numbers are real but so are the multiples. In an arc of six years the multiple has actually gone up by 5x-7x. Look at all these companies, especially the auto companies which are there in Nifty, some of the multiples are at three-year low, others are at a five-year low.
"So, yes there is a slowdown but so are the valuations. Yes, there are some disruptive issues in auto sector, there will be EVs
"So there is a place for everything. So what we are saying is there is a new normal perhaps for some time but then the multiples have also adjusted for that normal. Of course, the time correction can get elongated but then we all go for three-year fixed deposits and never bother to see how much interest we have accumulated but here we are bringing the discussion down to one quarter, two quarter, three quarters and that is for equities which is essentially a long term asset class."
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