Markets look to govt for reforms

Invest now for long-term returns. Valuations are attractive at this juncture. However, we do not want to commit ourselves on short-term returns. These are some of the observations made by capital market experts at the India Economic Forum. But they felt that the reform initiatives of the government hold the key.

"One can invest now with 5-10 years horizon based on right fundamentals and management," said Manish Kejriwal, managing partner, Kedaara Capital Advisors, India.

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However, the question was, whether the premium that Indian stocks command over other emerging markets is justified?

"Price to earnings ratio is very good still and pays for growth. Still it is a good time to buy," said Sandeep Naik, co-head, Apax Partners India Advisors. He said the premiums are justified.

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Most of the speakers voted for consumer demand based stocks, citing demographic dividend.

Anil Kakani, senior advisor to the US Department of Treasury said, "Infrastructure and power sectors have huge potential for growth once government acts on reforms."

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Kejriwal sees worth in education, health & pharma and financial sectors. In the same breath, he mentioned real estate, infrastructure and capital goods sectors as facing regulatory uncertainties. However, he feels that the Indian market is relatively expensive at this juncture.

Bansal bets big on e-commerce Websites like Makemytrip.com saying have the potential to grow with rise in Internet penetration.

Courtesy: Mail Today