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PSU banks may gain in 2015; Nifty support 7900: Dalton Cap

Bhatt sees 7900 as a strong support level for the Nifty. He expects shares of cement and engineering companies to be good buying opportunities post-Budget

The market is unlikely to fall much ahead of the Budget, says UR Bhatt of Dalton Capital Advisors. In an interview to CNBC-TV18’s Latha Venkatesh and Sonia Shenoy, he says the Nifty could move in a range of 7900-8300 till Budget.

Bhatt sees 7900 as a strong support level for the Nifty. He expects shares of cement and engineering companies to be good buying opportunities post-Budget, as new projects take shape.

He expects consolidation in the PSU banks space and feels these banks could be the surprise winners of 2015.

Bhatt feels the RBI may wait for the currency to stabilise before cutting interest rates. He sees spectrum auction as an important trigger in the telecom sector, and expects the next one year to be an uncertain one for telecom companies because of regulatory disruptions. His advice to clients for 2015 is to invest 50 percent in equities and the rest in debt.

Bhatt sees long term debt doing well in 2015.

Also read: Mkt headed for good times in 2015 but for volatility, say pros

Below is the transcript of UR Bhat’s interview with Latha Venkatesh and Sonia Shenoy on CNBC-TV18.

Latha: What is it looking like? Do you think that having done 35 percent gain in one year, we will be more like the US markets were in 2014 after a gigantic 2013, they did only about 15-13 percent in 2014? Is that likely to be the trend in 2015 or can we have two good years on the trot?

A: We can have two good years but probably not as good as 2014. Everything depends on some movement forward on the policy front. That probably would get known in the budget. Budget is going to be very big determinant because for last budget there was not enough time for the government to put its stamp on it but this Budget has to be dramatically different. All that they said they would do has to come out in the Budget. So I think Budget is a very big event. If that is something that suits the markets’ orientation, 2015 could be a reasonably good year.

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