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  • Deven Choksey - CEO and MD, K R Choksey Shares and Securities

    Deven Choksey

    CEO and MD, K R Choksey Shares and Securities

    DATE: August 07, 2015, 12:00 PM

    SUBJECT: What next for India's stock markets?

    MARKETS

CHAT CLOSED. READ TRANSCRIPT BELOW

  • MODERATOR:

    Hello and welcome to today's webchat with Deven Choksey on the road ahead for the Indian stock market


    DEVEN CHOKSEY:

    Hello, everyone


  • T

    TARUN

    Is it a good time to enter into the mid-cap and small-cap stocks? Can you suggest a few stocks or sectors that could be potential multi-baggers over the next one year?

    DEVEN CHOKSEY

    We would recommended to invest in quality stocks with strong business fundamentals. We like logistics, auto, auto ancillaries and media as a sector.


  • B

    BITTU SINGH

    Modi govt has done no reform for the infra and capital goods sectors. I had bought shares in Lanco Infra, GMR Infra, BHEL, L&T and have suffered a loss. How long should I stay invested to at least get back what I invested, or will my money turn to dust like the hundreds of pre-poll promises have by now?

    DEVEN CHOKSEY

    We are positive on Indian economy and actions taken by government will bring back economy on growth path and sectors like capital goods and infrastructure will be benefitting from this transformation.


  • S

    SAILESH

    Despite current session of Parliament being total wash out and despite no headway on GST and Land bills, and also no direction on course of action for the same, the market has not reacted. Do you feel reaction to this may happen in near future? What do you expect bottom range of market to be?

    DEVEN CHOKSEY

    We believe these logjams created by opposition in the parliament is hurting is detrimental for country's growth. We are expecting removal of these bottlenecks will drive growth as and when it will be removed.


  • S

    SAGAR

    What are the positive triggers for Nifty to reach 9,250 by next April?

    DEVEN CHOKSEY

    Start looking at longer term rather than looking at some levels.


  • S

    SUMEETK118

    What would be the scenario of Equity in coming years?

    DEVEN CHOKSEY

    We are positive on equity markets for long term and one should look at building a portfolio of quality stock on every decline with atleast 3-5 year outlook. We believe Equity as an asset class should outperform all other asset classes with 5 year horizon.


  • A

    ANIL

    Reform measures such as the GST and land bills have hit the Parliamentary logjam. Will this have a detrimental effect on the markets and should investors scale down their return expectations? What are the downside risks for the markets in the event of non-passage of these key legislations?

    DEVEN CHOKSEY

    We believe these logjams created by opposition in the parliament is hurting is detrimental for country's growth. We are expecting removal of these bottlenecks will drive growth as and when it will be removed.


  • N

    NARENDRA

    The markets are trading at about 17 times FY16 earnings. How have the first quarter results panned out so far and do you expect earnings to rebound in the second half of FY16?

    DEVEN CHOKSEY

    We should look market with 2-3 years perspective rather than looking on quarterly basis. We believe that earnings have been bottomed out now and recovery is in sight if you take longer view.


  • N

    NITIN

    Select metal, PSU banks, FMCG and realty companies are trading at multi-month lows. Would you advise bottom-fishing at these levels?

    DEVEN CHOKSEY

    We believe with government commitment to infuse Capital in PSU banks is positive for PSU banks.


  • R

    RAJIV

    Overall, the global and Indian economy growth has been sluggish as reflected in earnings, margins have expanded on the back of commodity crash but the topline has not, however the stock valuations have gone too high for the midcap. Do you see a significant correction in coming trading sessions?

    DEVEN CHOKSEY

    I am positive on Indian economy with longer horizon and would advice investors to use any weakness to enter good quality midcaps.


  • R

    RAJIV

    Historically, in every 7 years markets have crashed. Do you foresee that markets will probably crash within a year?

    DEVEN CHOKSEY

    Given the outlook and efforts of present government, a crash seems unlikely due to policy reasons. Any correction due to global, political and external reasons should be used an opportunity to buy quality stocks with long term view.


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