Holland mentioned that increased hiring freezes and layoffs across the technology sector globally, including by companies such as Apple and Amazon, are going to negatively impact Indian markets as well
Growth in the auto and auto ancillary sector is going to be exponential on the back of reasonable valuations, said Andrew Holland, chief executive officer at Avendus Capital Alternate Strategies, in an interview with CNBC TV18.
He said the growth of electric vehicles will aid not only auto suppliers but also power suppliers as both components will have to be supplied.
“I think growth in the autos and auto ancillary, particularly the electric vehicles, … is going to be a great space,” he said. “But I would say investing in auto parts is probably the way I would play into this whole space at the moment”.
Holland mentioned that increased hiring freezes and layoffs across the technology sector globally, including by companies such as Apple and Amazon, are going to negatively impact Indian markets as well.
The CEO continues to remain cautious about the IT sector amid rising interest rates worldwide along with the possibility of a global recession.
He also mentioned that a recession could negatively affect Indian exports to some extent, which will eventually impact the current account and balance of payments that might be reflected in the Indian currency at some point.
Also read: Foreign investors pick up Indian equities worth $ 3 billion in last 10 sessions
Talking about the banking sector, he mentions that given the current valuations, one must buy stocks for trading instead of long-term investments.
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