Shibani Sircar Kurian of Kotak Mahindra AMC, in an interview with CNBC-TV18, said she was extremely positive on cement sector and will continue to remain positive.

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She said," Real estate is seeing a pick-up, which is aiding cement volume growth. Infrastructure growth also is positive from a demand perspective.”

She believes, financials bore the brunt of the COVID-19 related slowdown. “As economy gets back on track, financials will benefit. That is what we have been seeing over the last one month or so, when financials have started outperforming the markets. Our preference has been for the larger private sector banks and for the larger NBFCs,” she said.

“We saw more earning upgrades than downgrades.”

“So across the board if you look at FY21 and FY22 earnings estimates for Nifty companies, earnings have been upgraded. This was a good quarter.”

“The expectation is that we will start seeing recovery even in terms of the revenue growth trajectory. Companies used this COVID-19 period in terms of repairing their balancesheet. With interest costs coming down, overall cashflows have seen an improvement,” she mentioned.

“Over the next few quarters we will continue to see the earnings momentum keep up,” she said.

In terms of market, she said, “Market has become more bottom-up in nature.”

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(Edited by : Bivekananda Biswas)

First Published:Nov 20, 2020 5:27 PM IST