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This sector will continue to be a safe haven for investors: BNP's Raychaudhuri

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We are positive on the tech space across Asia, said Manishi Raychaudhuri, Asian Equity Strategist, Equity Cash Asia Pacific at BNP Paribas

BNP Paribas is positive on the tech space across Asia and service tech providers are gaining from remote operations, said Manishi Raychaudhuri, the bank's  Asian Equity Strategist, Equity Cash Asia Pacific in an interview with CNBC-TV18.
He said that the FMCG sector will remain a safe haven for investors, and highlighted the strong returns delivered by many paint companies.
Speaking about safe haven sectors, he said, “In general to identify compounders, the broad parameters to look at are secular delivery of fresh cash, a secular delivery of access return or RoE (Return on Equity) greater than cost of equity and many of the Indian FMCG stocks have actually delivered that year-over-year and many of the Indian paint companies are also in the same bracket. So from that perspective FMCG would continue to be a safe haven for investors and many of the companies in that sector will continue to be compounders – as we like to call them.”
According to him, metals are benefitting as a consequence of resumption in economic activity.