Deven Choksey on what PSU rally, UPL rights issue will mean for market

economictimes.indiatimes.com:

Deven Choksey, MD, DRChoksey FinServ Pvt. Ltd, says: “The government has made most of the PSU companies more accountable for the growth. And that is one of the reasons for which the market participants and investors have started buying into some of the PSU companies because there is a visibility of growth that one is seeing vis-à-vis the private sector players I think these companies probably require to demonstrate their amount of growth. If that is so, then I would justify the kind of rally which is right now in place as far as the PSUs are concerned.”

You have been a market watcher for the longest time. Do you think we have the infrastructure in place for T+0, instant settlement for the equity cash segment? What will the impact of this be like?
Deven Choksey: In a lighter tone, I think in our country we first create the product and then the infrastructure gets built. I am not going to be very surprised if infrastructure is going to get built over a period of time. However, the most important part out here is that this particular move is likely to work for the investors much more significantly.
When you settle the trade on the same day, you probably bring in a significant amount of market confidence and the integrity quotient will probably increase significantly. So, from that point of view, I would think that it is going to benefit the investors the most. Whether we have the requisite infrastructure at this point of time in place, it will have to be tested.

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