Manufacturing, energy, pharma to be in focus this Budget, says Mahavir Lunawat of Pantomath
Mahavir Lunawat, Managing Director, Pantomath Capital Advisors, expects domestic manufacturing, energy, healthcare, pharma and technology to be in focus in this Budget. These would help sustain the economic growth in the coming years, he added. In an interview with MintGenie, he also forecasted that the IPO momentum will continue in 2024.
Considering the valuation multiples prevailing in the secondary market currently, new stocks at attractive price points find huge demand in the primary market, he said. Edited Excerpts: This budget is anticipated to have a strong emphasis on long-term development while attempting to fortify the financial system. Domestic manufacturing, energy, healthcare, pharma, and technology will be in focus which would help sustain the economic growth in the coming years.
Besides, key sectors such as semiconductors, key materials, mass manufacturing, telecom, etc. are expected to receive policy push. Coming out of the pandemic uncertainties, the year 2023 witnessed an uptick in IPO activities which is primarily attributed to the eagerness of companies to tap into capital markets, coupled with robust economic activity and positive sentiments from domestic investors.
In our view, this momentum is likely to continue well into 2024 as well. Post Covid, global geo-political issues have furthered India's stands as a favoured nation with unprecedented opportunities and now more companies are looking to capitalise on their balance sheet. Investors must make their investment decisions based on fundamentals of the stock that may be affected by short-term current market conditions but over a period typically fetch a good return.
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