Talking about the slowdown in the economy, he said, “We have seen it (slowdown ) in two-wheelers, cars and commercial vehicles numbers for quite some time. So the slowdown should not come as a surprise."
Mihir Vora, director and chief investment officer of Max Life Insurance, is positive on the IT sector "as the US economy seems to be chugging along well."
"I do not see rupee appreciating beyond a point, so 68-69/dollar that we see should remain stable,” he said in an interview with CNBC-TV18.
“We have seen that the government has announced plans to borrow from overseas markets on the fixed income side but that does not mean that the currency will appreciate. It probably means that the volatility in the currency will remain limited. Therefore, I see IT as a segment, especially the largecap IT is a good segment to be in,” Vora explained.
We do not think consumption as a theme is going to go away, said Vora. He, however, expects earnings cut in Q1 of FY20 for sectors like consumption.
Talking about the slowdown in the economy, he said, “We have seen it (slowdown ) in two-wheelers, cars and commercial vehicles numbers for quite some time. So the slowdown should not come as a surprise."
“The monetary policy, as well as the budget, do take cognizance of this slowing down and ample measures being taken to jumpstart the economy by supplying liquidity to the financial system and that is welcome," Vora added.
“Therefore, we see interest rates and liquidity being eased out over the next few quarters and that will continue,” he further mentioned.
Source: CNBC-TV 18
