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See correction in auto stocks as a good buying opportunity, says Invesco MF’s Taher Badshah

Updated : March 01, 2019 12:29 PM IST

Taher Badshah, CIO-Equities at Invesco MF, in an interview with CNBC-TV18 said that the recent correction in midcap index has given an opportunity to build portfolios.

On specific sector front, he said, “We are getting more positive on auto space, given valuations. This is a space which has not seen such a sharp correction in the market for a fairly long period of time and both ancillary as well as OEM space is incrementally looking attractive.”

“Now as we see it, we are seeing smallcap index to be at a discount to the Nifty or the largecap indices, by a modest amount, but still it is now at a discount and that’s by and large the situation what we saw in early 2014 or late of 2013 ... therefore, I see a lot of similarities from that year itself and then we know what happened post-2014 up until 2017,” he added.
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