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Quantum Securities says good time to add stocks; banks looking attractive again

Updated : November 05, 2018 11:58:44 IST

Quantum Securities on Monday said it's the best time to add stocks and added that banks are looking attractive again.

In an interview to CNBC-TV18, Sanjay Dutt, director, said the froth and over optimism in the market has got corrected, "So, the next year looks better. But as always one needs to be careful where one is putting their money in."

Dutt said earnings season was not as good as one expected it to be and he would be out with his shopping list, but he cautioned that one must remember that we have an election event coming next year.

Talking on the banking space, he said banking discipline and the way of doing banking in the country is going to change dramatically going forward, "So not only private banks, but good quality public sector banks are all also looking attractive."

With regards to IT, Dutt said it would be better to stick with largecap IT names

Talking about debt issues, he said at the grass route level every individual or bank has recognised this problem, "Moreover, the government is on top of it and the RBI is doing a great job. So the worst could be over."

"One can also look at good quality industrial names from an 18-24 months perspective. They may go down 5-10 percent but risk reward in their favour," he added.

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