ETMarkets Smart Talk: US policy changes could benefit Indian IT sector; Utilities and Industrials favored by UBS
US policy landscape, though may be also reflected in valuations as markets have been anticipating the outcome,” says Gautam Chhaochharia — Head of Global Markets, India – UBS.
In an interview with ETMarkets, Chhaochharia said: “IT Services sector may potentially benefit from US corporate tax cuts and thus higher spending, despite some worries around Visas” Edited excerpts:
Thanks for taking the time out. What’s your perspective on the markets at current levels? With over Rs 1 lakh crore in FII outflows and a depreciating rupee, what strategy are you planning to follow for the next 12 months?
Firstly, let’s not look at these numbers in absolute terms but also in terms of % of market cap or % of their holdings, in which case they are not off the charts.
Despite the correction, valuations reman elevated, especially for small caps. Markets were anticipating a weak 2Q earnings season, but the actual numbers were worse than these weak expectations.
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