Expert view: Don't foresee significant policy changes; bullish on infra, financials, says Oberoi of Prudent Equity

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Siddharth Oberoi, the founder of Prudent Equity, believes the Nifty 50 may give a double-digit return this year as the outlook for the market remains positive. In an interview with Mint, Oberoi shares his views on sectors he is positive about and how investors should navigate market volatility.

Edited excerpts:The focus should remain towards investment-led growth. We continue to remain bullish on the same themes.While I don't foresee any significant policy changes, I think it's wise to pay attention to the Budget and the discussions surrounding it, including how funds are allocated.I also think it's worth keeping an eye on major reforms like the farm laws and the electricity act, which were supposedly the big reforms expected by the BJP.Also Read: Expert view: Political stability, GDP forecast key positives but high valuation a key risk, says Priti GoelStrong earnings growth is anticipated, medium-term volatility may persist, and global factors will continue to significantly impact earnings.The Nifty is already up 7 per cent year-to-date; assuming global conditions remain favourable and earnings momentum holds, another 3-4 per cent gain over the next six months shouldn't be too difficult.Also Read: Nifty 50 hits a fresh record high: Can it touch 24,000 before the Union Budget 2024?We continue to follow a stock-specific approach and not look at indices and their valuations in isolation.Looking at historical valuations in small and mid-cap space and commenting on them being expensive at the index level is not the right approach.There is valuation discomfort in some pockets and opportunity in other places, which is the story of every bull market.There are still individual opportunities to make long-term capital