Overweight on banks, like pharma; avoid metals: Dipan Mehta

Dipan Mehta is over weight on the banking space and advices investors to also go over weight.

Dipan Mehta, member, BSE & NSE in an inteview to CNBC-TV18 shared his views on the outlook for sectors and stocks going forward.

He is over weight on the banking space and advices investors to also go over weight. The other space that could benefit from lower oil prices is plastic processing; FMCG, automobiles and these according to him should be on high priority list of investors.

He is also upbeat on pharma space for the long-term but in the short-term the December quarter numbers could be disappointing on back of cross currency issues.

Answering a query if there is further upside for the stocks like Gati , T VS Motor that have already seen a strong run up, he says there is still more steam left in them but the performance would vary from stock to stock. They could trade higher if they keep delivering on topline and bottomline. They could also benefit from expectation of an uptick in GDP growth.

He is not in favour of metals and says the current bounce in them is more of a technical nature on back of expected reforms. Historically, the mining industry, steel industry has not created wealth for shareholders. So long-term investors can avoid it but short-term traders can look at it depending on price movement, adds Mehta.

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