Upbeat on IT, private banks and pharma: Saurabh Mukherjea
Saurabh Mukherjea, founder, Marcellus Investment Managers, said they are comfortable buying into small ticket consumption, private sector banks, IT and pharma.
“These four spaces are classical Indian plays because they play naturally into India’s distinctive tendency to pump up the budget deficit and spray money at the poor,” Mukherjea said.
“We are in a classical Indian set up, where budget deficit on the rise as the government focuses on winning votes and as the budget deficits rise, it gives a stimulus to small ticket consumption,” he said.
“TCS is a scale gorilla without parallel in the Indian IT space, even Infosys is not in the same league as TCS. So the stock is a buy from a 10-year perspective,” Mukherjea said.
Amongst the small and midcap banks, the house is upbeat on City Union Bank and DCB Bank, he said.