Avoid shares of listed media companies for now due to Maharashtra government’s decision to force theatres to allow outside food inside

multiplexes, said Centrum Wealth Management on Thursday.

In an interview to CNBC-TV18's Prashant Nair and Ekta Batra, Devang Mehta, head-equity advisory, said, "A bit of correction or consolidation that is happening right now will provide a lot of headroom to people, who were just waiting with cash on the side-lines to buy lot of such midcap companies in the consumption universe and the financialisation theme."

Mehta is quite positive on midcap insurance space and midcap private banks.

"In consumption, there is a correction on the basis of fundamental valuations being high, but the volume growth that we have seen in the last quarter with earnings showing a bit of green shoots in lot of such companies, I think consumption space is one space we will again hunt to look at – discretionary or non-discretionary both."

According to Mehta, rural economy is coming back on the back of good monsoon.

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First Published:Sept 6, 2018 1:06 PM IST