For a stock like TCS where barriers to entry are very robust and the franchise can easily convince an investor for longevity, there is certainly money to be made. For the financial space, the fundamentals will start evolving now and there will be a gap opening up between the good and bad quality of the liability side as well as asset side amongst all the lenders over the next 6 months or so.

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- Rakshit Ranjan Portfolio Manager Marcellus Investment Managers

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If only consumption does well and investment doesn’t do well then eventually it can become a little inflationary. If only the formal sector does well, informal doesn’t then over time it impacts demand in the second round. So our challenge right now is to move from uneven recovery to even recovery. For the full year, we expect a contraction of 11 percent of the GDP.

- Pranjul Bhandari, Chief India Economist at HSBC

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The GST collection showing its first sequential rise in six months is positive. Also, auto sector sales are picking up with and Hero Honda reporting record-high sales and Mahindra and Mahindra (M&M) with very robust tractor sales indicate an economic recovery in India. In Maharashtra, they are starting to open the restaurants and bars again. So I think, on the whole, it is positive.

- Mark Matthews of Bank Julius Baer & Co

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I am not convinced about the auto sector recovery and even the unlock trade yet because I don’t see the big picture backdrop as to from where we are getting consumer confidence to this level – as in job growth, salary growth, or more jobs; none of that seems to be there. So, I would still continue with the no unlock trade, as in slow economic growth.

- Samir Arora, Founder & Fund Manager at Helios Capital

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In the last couple of years, many exits have happened including some of the directors who are voted out. But, there is something deeper that is bothering the organization in totality. Mine was not a surprise to me because I was already threatened on 7th which is almost three weeks before the annual general meeting (AGM) that I must quit.

- Sunil Gurbaxani, Former MD & CEO at Dhanlaxmi Bank

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In the last twenty years, there were around 9 lakh domestic connections and 15,000 km infrastructure. In the next three years, we are planning to connect another 9 lakh houses.

- AK Jana, MD at IGL

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We have seen a continuous reduction in prices in last couple of years and we are passing this reduction in prices to our end consumers. So we are reducing the prices and passing it on to our customers. We will be announcing more than Rs 1 on CNG. Margins will not be higher as we need to incur infrastructure cost because we are expanding at a very fast pace in the new geographical area. Secondly, during the pandemic period, we had operation and maintenance cost inspite of no volumes being sold. So, that cost is being absorbed. So there will be no difference in the margins which we will be getting.

- Deepak Sawant of Deputy MD, Mahanagar Gas

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Initially, there was a pent-up demand factor but I don’t believe that pent-up factor actually continues for 5-6 months. So, a part of the volume is going towards the festive build-up. Good monsoon definitely has led to a lot of improvement in demand in the rural aspect. An increase in MSP is also giving some right signals to the market.

- Sunil Bohra, ED & Group CFO at Minda Industries

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Against the backdrop of low interest rate environment without any change in the risk premium given that technology sector is to the forefront of keeping the lights on for businesses, I do expect that the multiples of these stocks would go up. The IT stocks have a good rally, but more is yet to come.

Infosys, Tech Mahindra are a play more on margin normalization and 5G and HCL Technology which has strength in the digital foundation and is doing quite well. So these are the plays that we like -- Infosys, Tech Mahindra and HCL Technologies.

Amongst the mid-tier pack, we like the business models that are scalable and have a multiyear growth run and that happens when you have strength in core transformation. I think L&T Info stands out amongst all mid-tier companies and that is our top pick in the mid-tier category.

- Kawaljeet Saluja, ED & Head of Research, Kotak Institutional Equities

(Edited by : Abhishek Jha)

First Published:Oct 5, 2020 6:21 PM IST