In an interview with CNBC-TV18, Dipan Mehta, member of BSE and NSE said that he is bullish on mid cap pharma companies, private banks and NBFCs.
In the monsoon session of Parliament, all investor eyes are on the Goods & Services Tax (GST) Bill, Dipan Mehta, member of BSE and NSE said.
The eventual outcome will be revealed only at the end of this session, he added. On the p-notes issue, Mehta said that the government will try bringing in reforms and transparency in the p-notes issue. Mehta told CNBC-TV18 that he is not placing any bets on blue chip companies like Lupin , Sun Pharma or Tata Motors .
In short as well as long term, subdued earning numbers are expected in coming quarters, he said adding that investors should be getting out of them at current lower valuations. However, Mehta is bullish on private banks, non-banking finance companies (NBFCs) and mid cap pharmaceutical companies like Cadila and Torrent .
In NBFCs, he recommends companies with strong June quarter earnings like Bajaj Finance and SKS Micro Finance .
Mehta expects the mid cap IT companies to outperform large cap IT firms. Geometric and KEC International are other companies that he is looking out for.