Coronavirus, which has killed 1,770 people globally so far, is likely to have a short-term impact on Indian companies, Vaibhav Sanghavi, co-CEO and fund manager at Avendus Capital, told CNBC-TV18.

“Industries like pharmaceuticals or consumer durables...are those guys who will face some amount of shortage issues for their own production. So, there would be some amount of impact, but we have to be very clear that whatever impact comes, it is going to be very short term," Sanghavi said.

Sanghavi likes banking, consumer staples and consumer discretionary sectors. “We continue to like banks especially private banks, both retail and corporate. Those guys who have capital, have management bandwidth, have risk mitigation processes well engrained and are able to capture the market share are the ones who stand to benefit. We are also bullish on consumer discretionary and staples, both primarily led by a recovery in the rural economy wherein food inflation is kicking up both protein and vegetable prices,” he said.

Speaking about the telecom sectors, he said, “During these times, basically what we do is we wait for the outcome which now is very clear. From here onwards we will look at which are the participants who are likely to be there for a sustainable or a longer period of time."