The recent COVID curbs have spooked the markets slightly and volatility has risen.

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Speaking about playing the second wave, Jigar Mistry, Co-Founder of Buoyant Capital said, “Going into Q4 banks is something that we are very keen on looking at. ICICI Bank and Federal Bank in the private sector are our key stocks. State Bank of India (SBI) is something that we are bullish on for a fairly long period of time.”

Talking about its impact on stocks, he said, “Any outcome which is certain is more preferable than the uncertainty that we have to deal with. You are dealing with 2-3 percent uncertainty for a month. The idea is actually to get positioned for this month into re-opening trades rather than going into companies for whom it is going to be very difficult to pass on the inflation increase, he said.

"Therefore companies and businesses much like staples, consumer discretionary are going to have a very tough time passing that sort of inflation into the consumer prices. Therefore the idea is to look at opening trades and use this one month of uncertainty to get positioned into those names,” he added.

On IT Mistry said, “In terms of IT, Q4 is a seasonally difficult quarter and you might still see very good numbers but the way for the last 4-5 months we have been discussing three odd names that we like in Information Technology Enabled Services (ITeS) and the ER&D space that is Cyient, Firstsource and eClerx is something that we have in the portfolio.”

He further added, “IRCTC, Aditya Birla Fashion and Retail (ABFRL) and United Spirits is something that we like in reopening trades.”

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(Edited by : Abhishek Jha)

First Published:Apr 6, 2021 2:58 PM IST