Vijay Kedia says he may not invest in Paytm, Zomato at any price. Here's why

Market veteran Vijay Kedia thinks that some newly listed companies, which have witnessed brutal sell-off in the recent past, may have achieved their bottom. However, he is not keen to invest in such companies.

In an interaction with Business Today TV, Kedia said that he does not invest in companies that can't give him peace of mind.

“I do not invest in shares where there is no predictability. I am not interested in investing in stocks like Paytm and Zomato at any price,” the market watcher said, adding he is an investor in a few technology companies which are old and listed.

Data available with Trendlyne.com showed that Kedia had over 1 per cent stake in at least 14 stocks as of December 31 last year.

Commenting on the overall market, the Mumbai-based investor added that there has been a structural change in the Indian capital market. At present, bull markets are longer than the bear market. “Earlier, all the bear markets were longer before 2003 and [the] bulls market were shorter compared to the bear market.”

He further added that the market seems to be working on the multiples of 21. “Firstly, the market topped at 21,000, the second top was seen at 42,000 and last top was around 63,000. Maybe the next top will be on 84,000 or something. There is a complete fundamental shift in structure,” Kedia said, adding the bull phase of the market ended in October last year when the index hit its all-time high. The benchmark BSE Sensex scaled all-time high of 62,245.43 on October 10, 2021.

“Now, the low hit by the market in March may be the bottom,” Kedia added.

He is also of the opinion that long-term investors should not worry about geopolitical risks. 

“Geopolitical risks are always present. However, this provides decent opportunities to investors,” Kedia said.

Sharing his thoughts on the rising commodity prices, Kedia added that the boom in commodity prices will stay here for many more years to come. 

“However, none of my investments were hit by the rise in commodity prices. I am 100 per cent invested in this market,” Kedia said. He further advised new investors to enter the stock market through the mutual fund route.

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