RJ Exclusive Summary

– 2018 will be the year of consolidation for markets
– IBC, GST will benefit the indian economy
– Believe BJP will form the govt in 2019
– Look at specific opportunities, not at sectors
– Flow of local money into the market is just the beginning
– Domestic flows are the best indicator of confidence in India
– Percentage of savings flowing into the market will only rise

– Oil prices can upset India’s fiscal policy
– Believe oil will stabilise around $69-70/bbl
– Don’t see further weakness in the rupee
– India won’t be affected substantially by global trade wars
– Potential growth in consumption stocks are priced in

– Would be careful in buying some mdcap stocks at current levels

Pharma:
– Pretty sure that the worst is over
– Positive about domestic branded pharma biz

Banking:
– See unprecedented growth story
– Good banks with legacy problems are very attractive investments
– ICICI Bk carries a lot of characteristics of HDFC Bk in terms of CASA
– Betting on ICICI Bk, Federal Bk and Karur Vysya Bk
– NBFCs more than well-valued

Metals:
– Betting on Tata Steel
– Extremely bullish on Tata Steel

Health:
– Lot of growth opportunity in Health Insurance
– Prefer Health Insurance over hospitals

Affordable Housing:
– We are underestimating its +ve impact
– Don’t think real estate prices will rise, but expect volumes to grow

Agri:
– Support govt’s decision to announce MSP for crops
– Govt must allow corporate sector in farming

Source: CNBC

The Big Bull Rakesh Jhunjhunwala talks to Shereen Bhan about midcaps, pharma and banks. https://www.youtube.com/watch?v=k53vpbYf53c

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