Here's why Digant Haria is bullish on NBFCs

economictimes.indiatimes.com:

«I think you very rightly pointed out that even in the auto space, if we dissect between what the affluent class would buy and what the non-affluent class would buy, the trend is pretty clear that the stocks which are operating more in the non-affluent class, the two-wheeler stocks, they keep struggling,» says Digant Haria, GreenEdge Wealth. Cannot take my eyes away from the Senco subscription was it a subscribe for you or would it be when it lists, would it be a buy then? See this whole rich man’s consumption basket, we have been just talking about it say last one and a half years and this is the basket which keeps on doing well. So the jewellers, the real estate companies, the fashion retailers all of them continue to report good numbers.

So I think this is a space which will do well because of the wealth created in the stock markets, in the ESOP ecosystem, in the tech and fintech ecosystem. So I think the space is good. It is a big buffet out there and Senco is something we like.

We like jewellers who are more PAN India and who can really appeal to the working class who want say smaller size in jewellery but you can keep on buying more and more in terms of fashion jewellery, not just the wedding jewellery. So I think we will stick with Titan and we would evaluate Senco over the next few quarters as to how they change their strategy from being a very-very traditional kind of a jeweller.I am going to shift gears and talk about a space where we have seen a huge amount of repositioning and that is autos. The auto space is looking okay, but it is not that the sector is going through a massive bull run per se. Two-wheeler companies are still struggling. There is disruption which could happen in Eicher's business model.