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BFSI may post healthy numbers in Q2FY24, says HDFC Securities' research head
October 10, 2023
In an interview with Moneycontrol, Deepak Jasani, Head of Retail Research at HDFC Securities, predicts positive outcomes for certain sectors in India. He anticipates strong performances from the BFSI (banking, financial services, and insurance), auto, and pharma industries. Jasani also believes that media companies will have a good quarter due to sporting events, G20, and increased political advertisements and media spending by consumer companies.
However, Jasani highlights potential challenges in the chemicals and textile sectors due to a slowdown in global trade. The agrochemicals industry may face pricing pressure for generics because of falling prices in China and unpredictable weather patterns.
Moreover, India, as the world’s third-largest importer of crude oil, could experience rising crude prices if fresh sanctions are imposed on Iran’s oil exports. This situation might lead to inflation and economic slowdown, impacting various sectors. Despite this, Jasani suggests that due to upcoming elections, fuel prices may not rise significantly, helping to contain the inflationary impact.
Additionally, Jasani points out that the capital goods sector is expected to benefit from increased infrastructure spending. Overall, while some sectors face challenges, others are poised for growth in the coming period.
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