Expect markets to remain rangebound in near term: Raamdeo Agrawal

Raamdeo Agrawal, the co-founder of Motilal Oswal Financial Services, believes there is value emerging in stocks, at least in the midcap space.

"Stocks that were earlier available at 20 plus PEs are now seen at 12-13 times," said Agrawal.

When asked about the auto space, he said, "One just hopes that the worst of the fall is over.  Interest rates have been cut but the liquidity transmission needs to take place, which makes take some more time."

Talking about the themes that would be discussed at the 15th Motilal Oswal Investor Conference, he said: "Look at how the economy is looking - the current problems, level of interests of FIIs and DIIs. There are some large teams have come from abroad, which shows that the interest in India is high. Given the global backdrop, India still stands pretty good and there is a lot of investor interest."

According to him, "Liquidity crunch is a big problem for the corporates, payments received on time will be a big positive indicator for companies because government payments have also got delayed distinctly. Government is the largest consumer of goods and services, so if they pay on time then 5-10 percent of the problem will be solved."

"Growth is a function of multiple forces – the demand situation should be good, the credit situation should be good, infrastructure should be good, even monsoon should be good- so a lot of things must come together to give sustained growth," said Agrawal.