Kenneth Andrade, founder & CEO of Old Bridge Capital Management said the June-quarter earnings have been a lot better than the expectations and some good companies are now available at cheap valuations.

Andrade said the house is currently looking at stocks which have cheap valuations and reasonable amount of growth.

With regards to metal space, he said,"The Indian companies are behaving quite differently from the international companies. Globally, over capacity is still not out of cycle but in India it is out of cycle. So, for Indian companies it is a cycle of profitability which is very different from what is happening globally."

“So wait and watch. It is not really a capitalist environment as far as that part of the industry is and if it is not so then this industry probably deserves to trade at much lower valuation,” he said, adding that they would prefer to wait before adding too many companies into the portfolio.

When asked as to how the political events like elections would impact market, he said there will always be volatility into large events. The market will react post the events but we have grown through the cycle of volatility and come out much better, said Andrade.