Key Points
Mumbai-based MOFSL's Siddhartha Khemka says he has a positive view on Bajaj Finance despite the recent sell-off in response to its in-line Q1 results..
Khemka also expects broad-based improvement in India's healthcare market, adding that the regulatory uncertainty which has hung over the sector has eased somewhat, with some pharma firms already reporting better numbers..
Today's reaction is a bit of a sell-on-news kind of thing but we have a very positive view on Bajaj Finance, given the strong growth trajectory that they have been able to maintain, plus the diversification that they are now doing in the financing business, which should help them scale greater heights...
That looks like pretty strong commentary in terms of the management's focus towards increasing the overall order book, which could drive growth going forward, especially in a environment where we are seeing that consistently, capex is picking up just before the general elections next year..
We expect pickup in execution as well for some of the construction names, which should also help companies like L&T, which is seeing strong momentum in both order books as well as execution capabilities, leading to strong earnings growth...
