Stock Market

Elara bets on pvt banks, consumer durables, not on big road cos

Market is likely to react to any escalation at Uri, a town in Jammu and Kashmir, where terrorists attacked the army camp on Sunday, believes Harendra Kumar of Elara Capital.

While we are focusing on moves by the US Federal Reserve, issues closer home
could impact the market more, he told CNBC-TV18.

Elara Capital continues to be positive on sectors like private banks, cement, consumer durables and housing finance. In the PSU pack, State Bank of India is a good proxy and is expected to outperform in the next two years, he says.

The upcoming initial public offering (IPO) of ICICI Pru is worth looking at as it is a high growth company.

In road construction companies, Kumar advises to stick to smaller names as the debt-laden big companies will take time to recover.

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