Prasanth Prabhakaran, senior president and CEO of Yes Securities discusses with Anuj Singhal and Surabhi Upadhyay his analysis on the fundamental side of the market as well as specific stocks and sectors.
On auto stocks, Prabhakaran said, “I will look at buying but in a stagnant manner. Q3 and Q4 should be staggered buying."
Once there is stability in the credit market cycle there will be a large amount of offtake, a pent-up demand which will come in at the end of Q4 and running into Q1FY20 till that you are going to get enough opportunities to buy, he said.
On PSU banks, he said it is the time to go back to that space at least the large ones.
"State Bank of India (SBI) is there. Not just because of the fact that there is enough recovery happening on the NPA space but also the fact that they have managed to grow credit because of the NBFC crisis," Prabhakaran said.
There is a large possibility of them ending up having a growth because a lot of down selling has happened to the PSU bank space, he said.