, Market Expert, says the capital market theme will continue to be a big one in the coming years. He also sees hotels as well airlines will be leading plays in the travel theme and counters like MakeMyTrip and similar kinds of travel facilitators offering the complete one-package solution right from train, bus, as well as airline to hotel bookings. All these three counters do well in the coming days.

Do you think the entire capital markets theme, as structural a story as it may be, in the next one year can make money, as was the case over the past two years?
Sunil Subramaniam: I think, yes, the capital market story can make a big play and the reason for that starts with the Rs 1 lakh crore giveaway by the finance minister. I am sure a part of it is going to come into savings and investments and a lot of that will get routed through mutual funds and equities. I see brokers and wealth managers and asset managers and insurance companies, all of them benefiting from the flow.

Bear in mind that the F&O and the retail equity trading is probably going to be down a bit. Pure stockbrokers and all may not see the same level of revenues they saw last year. But the rest of the ecosystem of the capital markets, will definitely be a gainer and the new SEBI chairman also has come out publicly with pro statements for both FIIs and DIIs and that supportive measure will also play an active role here.

What is the best way to play on this entire travel and hospitality boom?
Sunil Subramaniam: Both hotels as well as the travel portals and airlines are the ones which are going to benefit. We have seen the Kumbh Mela recently and how all of these things spiked and both medical tourism as well as religious tourism are probably going to drive the next wave.

It is not just international tourism, even domestic travellers are sharply picking up that thing, especially airlines because there is a huge shortage of capacity, there is a shortage of planes. We have a huge order for planes waiting to be executed, but it is going to take quite a few years to come and some of the existing players have gone out of things.

Those remaining players in the business are going to have a good time and I see airlines as leading the play and naturally, counters which are facilitating that, like you mentioned had MakeMyTrip and similar kind of travel facilitators as I would call them and offering the complete one-package solution right from train, bus, as well as airline to hotel bookings. That is something that people will look to do because nobody wants the hassles. They would like to go to a one-stop shop and complete it.

So, all of the three counters that I mentioned will do well in the coming thing, especially given the fact that this Rs 100,000 tax giveaway, not all of it is going to be either saved or consumer durables being bought. People are also going to feel happier to go and travel.