Rishi Nathany, director, Touchstone Wealth Planners, tells Puneet Wadhwa that the markets look poised to rise further, with infrastructure and real estate expected to outperform. Edited excerpts:
The markets seem to be taking a breather for the past few sessions. Do you expect the sideways movement to continue?
We do not expect markets to remain sideways at these levels. They will either give up some of the earlier gains and undergo a price correction before resuming its upward journey, or the current uptrend will continue with greater vigour and a broader base, where mid and smallcaps will also participate.
What is your market outlook for the short-to-medium term? Which sectors are still worthy of investment?
We are positive on the markets going forward. In terms of specific sectors, real estate, infrastructure, metals, packaging, auto ancillaries, paper and sugar should perform well.
What is your opinion on Mahindra Satyam’s results? Will you recommend investors to buy this scrip at current valuations?
The results have been quite encouraging. The balance sheet has been cleared of most of the earlier mess, costs have been brought down substantially, and net worth is positive.
However, given the possibility of an impending merger with Tech Mahindra, there is not enough scope for the company as a standalone entity.
Therefore, if one wants to invest, a call should be be taken based on the future prospect of both companies.
Gold prices have been rising steadily. Where do you see the yellow metal by the end of this calender year? Can you indicate a price range?
It is very difficult to predict a price range, but gold could continue to hold firm and may trend higher through the festive season.
