What is your long-term outlook for SBI?
Quarter one numbers for SBI were better than expectations. The moratorium has come down and the NPA numbers have also reduced. The slippages and provisioning have also fallen. My three-month target for SBI is around Rs 235-240 and for one-year horizon, I am expecting SBI to move above Rs 270-290 levels.
Apart from SBI also do you like some other private sector bank?
In my last interview, I suggested IDFC First Bank. At that time the stock was around Rs 28, and now it has crossed the level of Rs 31. I am still bullish on the stock and expecting good returns out of it in the coming days.
What do you like about Godrej Agrovet and what is your price target?
Godrej Agrovet is into Indian animal feed and agri-business. It is a highly diversified company, backed up with research and development. The company also holds a leading market position in poultry processing, animal feeds, oil palm plantation and agri inputs. The June quarter numbers have been very good, and the government is also focussing on animal feed as well as the agrochemical space. Apart from that, Astec Life which is a subsidiary company for Godrej Agro is also making constant highs, and its performance has also been really brilliant. My three-month price target for the company is around Rs 550.
What's your take on KEC International? What is the kind of return target and factors which you expect to play out in the stock?
They are into power transmission, infrastructure and heavy civil work, industrial and hydrocarbon work and residential and public spaces along with defence. And this company also provides professional EPC services. It has a huge order book, somewhere around Rs 18,000-2,0000 crores and the stock in 2018 was trading around Rs 440 levels which right now is available at Rs 300. In the lockdown period also the company performed well. Its valuations are quite attractive. My three-month target on the stock is Rs 340.
What's your take on metal stocks? Anything you like in that space or is it an avoid for you?
First of all, let me get into the cautious part of the commodity market. It is time to remain very cautious as we are seeing good upside rally since the last few days and we have witnessed a huge positive rally, globally also. After this rally, which we have seen in the short term, investors are advised to remain very cautious. Till the time the vaccine does not arrive in the market, it will not face any correction. The market has not given an opportunity to the short players and it has been always been rallying up during this time but Russia has come up with a COVID-19 vaccine. Now, we can easily see a sharp fall in the commodity market. The USA too will soon come out with a vaccine. The profit booking will be witnessed when the vaccine will arrive globally. I would suggest that 11,400 to 11,300 levels will be hurdle point for Nifty and on the downside 11,100 to 11,000 mark will act as support. The stock-specific action will remain but the stock selection will be very difficult after this point in time. Pharma and IT are the only sectors which have not been impacted that much by the lockdown, and I am expecting good quarter numbers again from the sector. So, for now, one must avoid the metal space.
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Markets will correct only when vaccines will arrive globally: Equity99 Advisors - Economic Times
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