Very positive on overall India story, not so much on the export and FMCG story: Deepak Shenoy

economictimes.indiatimes.com:

Deepak Shenoy, Founder, Capital Mind, says “most of the government contracts will start flowing in only after the budget in July this year. Things may halt for PSUs before that. So, keeping that in mind, we are still very positive on the overall India story, not so much on the export story, not so much on the FMCG story.”

What are you betting on now? Where are you seeing that you could find some value?
Deepak Shenoy: Honestly, we have had a bit of an interesting year. January was very good for the small and midcaps, and okay for the largecaps. The largecaps have kind of made it up in the last couple of months while small and midcaps have retreated. But in general, we are seeing this quarter itself as more or less a flattish kind of quarter overall. But the results which will start coming in April should show, at least certain sectors start to show a lot more interest in both the commentary and the numbers.

For instance, the power sector, some numbers from the players in the semiconductor space, the infrastructure players because this is usually the biggest quarter of the year and correspondingly some of the rail, defence companies may actually show muted results, where they are dependent on government contracts because most of the government contracts will start flowing in only after the budget in July this year. Things may halt for them. So, keeping that in mind, we are still very positive on the overall India story, not so much on the export story, not so much on the FMCG story.

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