In an interview to CNBC-TV18, Deepak Shenoy, founder and CEO, Capital Mind, shared his views on the fundamentals of the market.
On Sun Pharmaceutical, Shenoy said, “There are two things happening at the same time. There is a resolution of Halol that is in progress. There is potential US FDA action as well that should at some point positively affect the company."
However, the negative news in the form of a potential probe by Sebi and then allegations being made have to be verified, he said, adding that if you are a shareholder, it would be a hold.
"I am a shareholder for a long time so I am not buying anymore, I am just holding," Shenoy said.
On Indiabulls Housing, Shenoy said, “According to anecdotal evidence, the company has raised interest rates for a lot of their customers by upwards of 200 basis points. This might be their way to trigger some form of repayments so that the liquidity issue is eased out."
On Yes Bank, he said it is a great bank, but currently, there are issues of management or issues of governance, and issues of under-reporting NPAs. "Once that passes, we should be in a much better state,” Shenoy said.
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