New long-term growth story in Asia is India, not China, says Chris Wood of Jefferies
BJP's defeat in Lok Sabha elections might lead to 25% drop in stock market, says Jefferies Wood is positive about the real estate sector as he pointed out that the property upturn has not waned despite monetary tightening and they have the steam left for the next four to five years. (Exciting news! Mint is now on WhatsApp Channels. Subscribe today and stay updated with the latest financial insights! Click here!) Also Read: Chris Wood's Greed and Fear explains why PSU banks are outperforming private lenders He said investors should buy both - property and property stocks.
He believes the positive momentum in the realty sector could last as long as the last downturn in the sector, which is seven years because of factors, including huge pent-up demand and reform of the property market in the form of the Real Estate Regulation Act (RERA) which has caused consolidation in the sector among the developers. He said he could have exposure to sectors such as auto, defence and IT and could have added more in the power and capital goods sectors.
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