Gautam Trivedi, co-founder and managing partner of Nepean Capital, expects the Indian market to consolidate as money is moving towards the initial public offering (IPO) market.
Speaking in an interview with CNBC-TV18, he said, “There will be consolidation led by the absolute amount of money that is going into the IPO market; so that money which otherwise would have gone into secondary market is finding its way in the primary market and as a result, there is a consolidation.”
In sectors, he likes cement stocks as Q1 of FY22 results have been phenomenal and according to him, Vardhman Textiles, Indo Count Industries and KPR Mill from the textile space look good.
Trivedi further said that Asian Paints’ results continue to surprise on the upside and therefore, would advise not to sell the stock if someone owns it.
On midcap IT, he said he would not allocate money to midcap IT companies at current levels.
Trivedi also mentioned being cautious about pharma in the near term.
For the entire interview, watch the video