Singhania advises investors not to be worried about periodic corrections in the market, as the longer term story is still looking good
Interest in India remains high and the mood among investors is more positive than what it was last year, says Sunil Singhania, chief investment officer, Reliance Mutual Fund.
In an interview with CNBC-TV18’s Latha Venkatesh and Sonia Shenoy, he says the market is not trading cheap and so investors should be careful about what they buy.
He advises investors not to be worried about periodic corrections in the market, as the longer term story is still looking good.
Singhania expects corrections to be short and swift, and says investors should use corrections to their advantage by buying at every dip.
He advises investors to go for companies whose balance sheets are repairable in the near future. He says there may be plenty of companies available cheap, but the balance sheets of many of them will take a long while to fix.
Singhania prefers private sector banks over public sector ones, though he feels the latter will benefit to some extent from rising values of their bond portfolios.
He sees the upcoming Budget to focus on the long term strategic goal plans of the government. He is also bullish on teh urban consumption story