These include two-wheelers, tractors, white goods, home improvement, commercial vehicles, housing finance and retail finance, he adds.
He feels key stock beneficiaries should include Hero Motocorp , M&M , GSK Consumer , Nestle , Shriram Transport and Whirlpool India .
Meanwhile, Sanjay Mookim of Bank of America Merrill Lynch says several reforms like GST, bankruptcy code, real estate bill etc should benefit the economy as they are implemented over the next 2-3 years.
Indian equity valuations have expanded meaningfully on global flows. Midcap valuation premiums are at all-time highs. All this points to heightened risk, he feels.
Mookim suggests sticking with quality names in India continuing to focus on consumer, domestic-oriented businesses.