Ashwini Agarwal, co-founder & companion of Ashmore Investment Management stays constructive on banks and monetary shares.
Speaking in an interview with CNBC-TV18, he mentioned, “On financial services and banks, across the board, we remain fairly positive and our sense is that balance sheets are clean now, heavy provisioning behind us, loan growth is picking up. So yes, the framework for sustainable, superior growth and earnings growth, beating topline growth is there for financial services and bank and therefore, positively inclined towards the sector.”
“As of now, I am worried about the earnings momentum and slowing growth because of the restrictions that have been imposed. However, broadly I do not have a significant upside or a downside view on the market but we continue to look for opportunities,” mentioned Agarwal.
According to him, IT inventory seems costly publish latest run. “The only thing that can allow IT services stocks to outperform from here is a depreciation in the rupee or an appreciation in the US dollar, whichever way you look at it,” he mentioned.
For the whole interview, watch the video
