Market is expecting a bounce in the economy, said Ajay Srivastava, CEO of Dimensions Corporate Finance Services. He expects consolidation in the banking sector and prefers sectors like IT, pharma and banks.
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Speaking in an interview to CNBC-TV18, Srivastava said, “Pharma and IT can keep you going for a long-time. So if one needs to have a stable platform for investing then technology would be the first place to buy followed by pharma and banks.”
The banking sector may see some consolidation, he added.
“If the RBI policy remains where it is there is no way for banking but to go up and we are going to see some consolidation; these 20-30-40 banks are not going to survive given what is happening in technology and cyber security. It is difficult for the small banks to compete in the market in the next 2-3 years.”
According to him, banks will be the big theme in 2021 and therefore, keep adding exposure to top banks.
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