Key Points
Anshul Saigal, CIO, Kotak PMS, says in India, we are only at $2300-2400 in terms of per capita income, I do not have a doubt in my mind that this is going towards $4,000 in the next 5 to 7 years..
If one is to look beyond the next two-three months, maybe two quarters and take a two year, three year, five year view, then there are tons of opportunities in India and this will play out in value creation as well in stock prices. . Lets start with the defensive space because pharma made a bit of a comeback this week..
There are thousand stocks in the markets and many of those are quite attractively poised in terms of valuations, also less covered by the street that is where our interest is at this moment...
This trend that one is seeing in urban consumption be it the ARRs for hotels, what some of the aviation stocks are doing and what is happening with the overall hospitality space as well or largely numbers from Titan, Page Industries, Trent..
We are seeing luxury goods and slightly expensive goods and services seeing a significant uptrend while things like glucose biscuits etc, which are at the slightly lower end in category, are seeing some weakness. This stark difference is only just starting to change where we are seeing rural consumption come back, rural and tier2, tier-3 city consumption come back...
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