The next level of Indian stock market as well as the economy has just begun, says value investor Vijay Kedia in an exclusive chat with ETNow. The investor was also very bullish on India growth story.

Kedia believes that the government is doing well in terms of reforms and something very good is happening in India that one may not realise while sitting in an air conditioned chamber.

“If you travel deep down the towns and villages of India you can see that something is happening in India,” said Kedia.

In the chat with ETNow, he added that forget about short-term, India is going to see wonderful next 10,15, 20 years. The stock picker advises small investors that if one does not have four or five years or 10 years perspective, then one should be very careful because the moment you enter, stock prices can go down by 25-30 per cent then you will say the stock market is a place for gamblers.

While commenting on his multibagger pick, Sudarshan Chemicals, he added that things are progressing well for the company, it went up manifold over the last three years and now it is consolidating. “I think the next phase should start soon,” he added.

He further advises small investors to be very careful while picking a stock in the present scenario due to likely froth in the market especially in real estate sector.

The BSE Realty index has surged over 60 per cent on a year-to-date basis with Indiabulls Real Estate surging nearly 160 per cent till date. It was followed by Godrej Properties (94 per cent), Prestige Estates (up 93 per cent), Phoenix Mills (up 47 per cent) and Oberoi Realty (up 42 per cent).

He further explained that he knows a Maharashtra-based real estate company to which he had lent some money which is yet to give his principle and interest for last 18 months. “The stock price of that real estate company has gone three or four times,” he said.