22/06/2015
Dec Sensex target cut to 31000; bullish on infra: Deutsche
(The current spell in market may not last for very long as there are too many global event causing uncertainities, says Pratik Gupta, Head of Equities, Deutche Bank India.)
The current spell in market may not last for very long as there are too many global event causing uncertainties, says Pratik Gupta, Head of Equities, Deutsche Bank India. He cites the ongoing trouble with Greece that may result in blocking the up move in markets. He reminds investors of the massive erosion of wealth in emerging markets which saw and outflow of USD 20 billion in the month of May. However, it is a short term overhang; Gupta clarifies in an interview to CNBC-TV18. He is also worried about the earnings prospects in India following which December end Sensex target has been brought down t0 31000. Like most analysts, Gupta too believes the pace of earnings downgrade will see a steady decline in the quarters to come. In the long term, however, the India story will continue to interest foreign investors. "We remain constructive and bullish on India," Gupta said adding the government is working in the right direction. He has overweight stance on the infra sector based on government's capex drive. However, private capex is likely to stay tepid in the near term. He remains neutral on the telecom space.
The current spell in market may not last for very long as there are too many global event causing uncertainities, says Pratik Gupta, Head of Equities, Deutche Bank India...