M&M a buying opportunity; stay away from Raymond: Chakri Lokapriya

economictimes.indiatimes.com:

Chakri Lokapriya, Managing Partner, RSB LLP, says that it’s time to be cautious as at the Nifty level, the earnings continue to be weak at the index level simply because the main constituents, whether it is IT or pharma or metals are not going to contribute to the earnings growth. On the other hand, the broader market earnings growth at the index level is likely to be far stronger

While Wednesday’s decline was led by a slew of discounts from Motown, given the weekly expiry, the Budget coming up ahead and then, of course, data points like US CPI as well at the global front, do you think it makes sense to go a little light into these events?
Chakri Lokapriya: You are right in terms of the market has run up and gone into Budget there is a lot of expectation in those few sectors like defence, railways, infra, and agriculture also to an extent. While at the Nifty level, the earnings continue to be weak at the index level simply because the main constituents, whether it is IT or pharma or metals are not going to contribute to the earnings growth. On the other hand, the broader market earnings growth at the index level is likely to be far stronger. But those stocks have run up, so I think caution would be helpful at this juncture.

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On the point of the panic that those discounts