Rakesh Arora neutral on IT, pharma space

Dec 12, 2013, 05.55 PM IST

Rakesh Arora of Macquarie Capital Securities is neutral on IT and pharma space. "We have added further exporters in the form of Tata Motors, Tata Steel and other metal companies," he adds.

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Rakesh Arora neutral on IT, pharma space

Rakesh Arora of Macquarie Capital Securities is neutral on IT and pharma space. "We have added further exporters in the form of Tata Motors, Tata Steel and other metal companies," he adds.

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Rakesh Arora neutral on IT, pharma space

Rakesh Arora of Macquarie Capital Securities is neutral on IT and pharma space. "We have added further exporters in the form of Tata Motors, Tata Steel and other metal companies," he adds.

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Rakesh Arora of Macquarie Capital Securities told CNBC-TV18, "There is no doubt that export oriented sectors like IT and pharma will continue to do well despite being well discovered stories. They remain the core of a portfolio. So we are neutral on IT and pharma."

He further added, "We have added further exporters in the form of Tata Motors ,  Tata Steel and other metal companies which are also impacted via rupee. So, almost 40 percent of the portfolio has to be made up of exporters."

"Given that Indian economy is starting to recover and GDP forecast have been on the upswing, remember only two months back most of the economists were trying to forecast 4 percent GDP growth or lower. Now at least we are moving closer to 5 percent for this year and 5.5 percent for next year. So to play that recovery in the Indian domestic economy we are saying look at banks and little bit on capital goods to capture that upswing," Arora said.

He further said, "So it is not an all out recovery as yet, it is slow and tepid recovery, but I think the initial signs are there that economy has bottomed out. That should lead to rerating of these sectors pretty significantly which has already started in a limited way."

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