Market sentiment is not so good as it was a few weeks ago due to lack of any government actions on new measures to propel the economic growth, said Samir Arora, founder and fund manager, Helios Capital. "We were all expecting that since the government had cut corporate tax rates, they will do some more tax cuts for consumers or maybe for the stock market,” he said in an interview with CNBC-TV18.

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“This government is not giving us some new interesting ideas that we can hope for in the next few weeks or months," said Arora, adding that these are times of crises and one cannot wait and time things for the budget.

“Right now the new developments, discussions do not seem exciting plus also the announcements of the government have made in the last 2-3 months, we do not have an account of what happened as in what all succeed, what was the progress which was promised in those press conferences every week,” added Arora.

Telecom stocks

In the wake of recent developments in the telecom space, Arora said he would not buy telecom stocks as there is a lot of confusion over the Supreme Court ruling related to AGR dues.

"I don’t know how the Supreme Court, which has just given a decision, in one week will say I made a mistake and therefore I have to reverse everything or that you found a new argument which you did not have 3 weeks ago," said Arora.

"Yesterday, one minister said that not only these guys have to pay but everybody has to pay if they have a telecom licence," pointed out Arora.

"At least somebody could have said that that clearly looks out of range or reach or an overreach and maybe they are collateral things; and that we will try and reverse that; and appeal to the court that don’t apply generally but the minister says that we have to get from them also then ONGC or Power Grid has to pay because they have telecom licence– how?”

First Published:Dec 6, 2019 11:58 AM IST