Will market get into consolidation mode ahead of Budget? Mahantesh Sabarad answers

economictimes.indiatimes.com:

«Actually, within the power sector, if you look at the distribution companies, then I would say that they have been simply overvalued. Power Grid romping ahead into the overvaluation territory is clearly visible,» says Mahantesh Sabarad, Independent Market Expert.

Will you use this dip as a buying opportunity on the likes of IndiGo and Honasa?
Both these companies have very profitable outlook. So, generally a dip should mean that one can take a bite of these companies. But, if I look at IndiGo, you are entering the lean season right now and therefore one needs to be a little careful when it comes to the airline stock. As far as Honasa is concerned, they are in for a little tough competition ahead. So, one would rather wait out what the management would like to say post these dips, post these equity changes, etc, to really make more sense of it. As it is the overall market seems to be a little shaky right now and therefore we might have an effect on these two stocks.

Many say that about power as well along with the financers that that is also an overvalued pocket right now. Would you say wait it out, let some of the fizz actually ease off to make a fresh entry or even make an add-on to the existing positions?
Actually, within the power sector, if you look at the distribution companies, then I would say that they have been simply overvalued. Power Grid romping ahead into the overvaluation territory is clearly visible.

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