PN Vijay, Portfolio Manager, in an interview to CNBC-TV18 citied his views on various sectors and how should one play stocks in these sectors in the current market situation.
"We have been buying beaten down stocks in sector like banks and auto." The reason being, a precipitous fall in commodities including crude. This is expected to lead to a downward trend in inflation and interest rates in the last quarter of calendar year.
He suggests, one should follow a pecking order to enter infrastructure space in some time. He said, "L&T would be one everybody’s list. Then one can look at contractors, companies which are not asset based companies but who play for a margin likeIVRCL or IRB Infra ."
For the IT sector, he says one should wait and watch but with an inclination to get into it again. He says, IT majors will see some softness in the volume of contract but they aren't unduly worried. However, these majors will feel some pressure on pricing. He picks Infosys and TCS from the IT space.
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