RIL and Jio could be a game changer: Manish Chokhani, Enam Holdings

India has a unique opportunity to attract disproportionate foreign capital but due to lack of urgency and sheer obstructionism, the foreign interest is losing patience with India's inability to execute on its promise, said Manish Chokhani

Jan 04, 2016 12:01 IST India Infoline News Service

"The stock market may range between -5% and +15% in 2016, and sectors such as FMCG, consumer-focused lenders, automobile, and media may perform well, says Manish Chokhani, Director, Enam Holdings.

On Enam's investment strategy, Chokhani told ET, that it is better to keep less expectations and stay defensive and nimble in an environment where profit expansion is not likely to be necessary across all sectors.

He said that there are expectations from RIL and even Jio can act as a game changer. He has no expectations from commodities and capital goods.

According to Chokhani, India has a unique opportunity to attract disproportionate foreign capital but due to lack of urgency and sheer obstructionism, the foreign interest is losing patience with India's inability to execute on its promise. However, India is positive in terms of volume and margin expansion, which gives a hope for earning recovery.

On RBI interest rates, he said that until the industry gets globally competitive capital, RBI will not create fresh supply. Therefore, it depends on how the government controls its revenue expenditure and redirects resources for infrastructure spending.

He concluded, "If we truly believe that India will be the third largest economy by 2030, we must make all the efforts to define it as an asset class of its own".


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