Market expert Sandip Sabharwal expressed caution on high-valuation EMS stocks like Dixon Technologies, questioning earnings quality and growth sustainability. He offered a tactical view on oil stocks such as ONGC, citing cheap valuations, and maintained a guarded stance on Paytm due to structural challenges and low-PE business models.
Ahead of the Union Budget, market expert Sandip Sabharwal urges selective investment in defence stocks. He notes the commercial vehicle cycle is strong, with Tata Motors CV appearing more attractive than Ashok Leyland. Sabharwal sees value in ITC, expecting moderate returns. He expresses skepticism about Swiggy's profitability amid intense competition and growth challenges.
Precious metals saw a sharp overnight rise. Market strategist Hugh Johnson notes global uncertainties are shaping these moves. He advises caution on gold and silver, suggesting speculative demand may ease. The US dollar is under pressure. Johnson expects a steady Fed chair pick, likely Kevin Warsh, who understands central bank independence.
Chief Economic Adviser V Anantha Nageswaran highlighted structural reforms in land, education, energy taxation, and agriculture as crucial for India's medium-term growth. He noted that recent reforms have already boosted growth potential, with further progress dependent on addressing pending issues and improving education quality outcomes.
