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Domestic stories attractive; prefer KNR over LT: HDFC Sec

The sudden weakening of private sector banks reflects the overall market pattern and not wrecking of a sector that has been a darling of investors, says Dipen Sheth, Head-Institutional Research at HDFC Securities

Indian equity sell-off is more technical than fundamental in nature, which should be seen as “yet another crack” that gives opportunity to buy, says Dipen Sheth, Head-Institutional Research at HDFC Securities. He agrees that global liquidity will be short but points out that the current volatility has made domestic stories attractive.

Talking about the sudden weakening of private sector banks, he says that reflects the overall market pattern and not wrecking of a sector that has been a darling of investors. He disputes talks that Axis Bank is challenged in anyway. He says Axis Bank has been surprising street by its performance for 3 years.

He prefers Shree Cements over Ultratech in cement stocks and KNR over L&T in the construction space.

Stay tuned for transcript

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