Markets at very attractive levels: Vallabh Bhansali, ENAM Consultants
22 May 2006
Vallabh Bhansali of ENAM Consultants believes that the markets are at mouth watering levels currently. He says these are god sent opportunities for investors.
He adds that there is no logic behind prices reaching these levels. Excerpts from CNBC-TV18's exclusive interview with Vallabh Bhansali.
On Thursday you said that the economy is looking very good, and if value were to be found you would find it at lower levels, how is it looking now?
I think the levels are absolutely mouth watering. Some of the prices are beyond any kind of logic and reason. Normally I don't talk about individual stocks but I see several sectors, IPO's, several companies trading close to prices that were six months or one year ago.
One should forget to look at the Sensex and just look at the individual stock prices and these are god sent opportunities for long-term investors.
Which sectors look attractive?
The rupee has jumped and a lot of export driven sectors have become attractive, although some of them had been hammered some time back.
There are companies that have given guidance and if one reads the new facts into those guidance, then what else can one want. It is all there written on the wall.
How much of the fall of the last couple of days, particularly today would you put down to the systemic issues of margining, bank transfers, inability to get money across on time to the broker to pay up for marked up margins?
I think it is all mixed up to say that there is no systemic issue in terms of margin calls coming into play. I don't think that the markets started to go down because of margin calls. I think it started with some kind of panic somewhere or some profit booking, which led to this spiral down which creates margin call pressures.