In the current market mood financial sector is the one which is the worst hit. And when sectoral fancy suffers many a times fundamentals take a backseat atleast for a while. So I think as of now, all the names like GIC hsg, JM fin, LT FH etc have been beaten down and remain under pressure.
Plan of action going ahead depends upon mindset of the investor. If the investor is a true blue value investor, these offer great entry points. e.g GIC hsg which has improving NPAs and decent valuations is available at close to 0.5 times book value. Even if it reaches book value, say in next 2-3 years, one can double the money. But this approach requires patience and pain bearing capacity.
But for someone who wants to play techno funda or pure technical bets, I think there will be some consolidation before any strong move comes around. Markets though have been surprising us both on upsides and downsides since past 1.5 years, ever since Oct 2021 correction, so I wont rule out anything.
| Subscribe To Our Free Newsletter |
