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uh porinju veliyath is now joining us a veteran

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investor uh Porinju how are things looking

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how are you digesting your smile on your

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face is still there do you think they'll

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make you've been a big voy of the

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current political leadership you you

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think they'll scrape through and make it

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confidently yeah I have been highly

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appreciative about the current regime

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and you know especially the last 10

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years what they have been doing for the

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nation for a long-term uh you know uh

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economic growth and Trend setting I

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think they have done a wonderful uh work

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and a great platform now of course I

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think mostly in the market people were

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expecting 3233 kind of seat some of them

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are expecting 300 seats around but the

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exit poles gave something differently

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that's why Market reacted differently

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yesterday so it gave lot more hope but

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now things are coming um uh you know to

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reality I strongly believe BJP the NDA

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will form the government

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and that's always good there may be

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allies partners and you know a coalition

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kind of thing can happen which is not

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very good but these kind of things you

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know it affects the initial sentiments

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but again stock market will come back to

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the you know that Basics which is

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earnings and valuation of individual

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companies and businesses so that way I

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think investors can still bet on India

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look for the long-term uh you know uh

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prospects of the economy and the sectors

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and the companies uh and it's it's a

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still an amazing Market in the world uh

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an opportunity to invest in everyone in

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the market on your channel including me

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we were all talking you know there is a

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there it's a rich valuation uh there is

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frow in the many sectors and there's

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Euphoria in some companies in the psus

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and some other select sectors so a

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correction was due we all were knowing

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discussing the last many many months we

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can just feel you know now it has come

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whatever is the reason so that

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correction is happening and uh I think

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it will be a healthy correction the frow

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will go away again investors should

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start looking at you know value stocks

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and uh you know with a long-term

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perspective India is offering a

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fantastic opportunity there is no doubt

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doesn't mean that you should rush to buy

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today and tomorrow you will have

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comfortable time in in the coming weeks

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and months to invest and build up your

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portfolio and charge it

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up what you're saying is that it's going

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to be a bit sideways and there's going

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to be consolidation at least for the

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immediate term and does that mean that

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those all-time high levels and the

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things about 25,000 Nifty all of that

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gets pushed back perhaps in 2025 only

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now it can happen in

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2024 it can you know whatever High you

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saw yesterday I believe you will see uh

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index above that level in

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2024 so that's a high conviction call

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coming in that we have not made the peak

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of the year as yet there's much more to

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go and 2020 uh you know 25,000 is also

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possible in 2024 itself but you talked

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about that the valuation will take a bit

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of a reset and there is opportunity

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available if one starts to you know kind

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of one needs to start to deploy the

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money where uh which sectors and where

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which segments would you buy first uh as

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far as the market goes

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okay I think most people are already

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invested in fully so you know to start

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investing and all it is uh relevant to

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only very few uh people some fund

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managers uh I feel again psus it gives a

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good correction we should start looking

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at some of those stocks especially in

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the oil and gas sector I was talking the

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other day uh so there there are pockets

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of opportunities with very reasonable

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and attractive valuations this fall

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happening is making it more and more

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attractive so but at the same time I

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will tell you if you take one year ago

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or two years ago or 3 years ago the kind

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of valuation attraction across the board

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that is not available today it will not

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be in the future also we are at a rich

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valuation because of a faster growing

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economy than most other economies in the

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world and you know a political

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leadership and stable politics which at

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this point of time some people started

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doubting but I strongly believe you know

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the voters this time might have got

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attracted a lot of them because of the

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uh perhaps kind of irresponsible dolls

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offered by the alliance uh which you

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know somebody say every month we are

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giving you 8,500 rupees you don't need

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not do any job go on looking at

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Instagram and

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Facebook so why should somebody like you

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know there are a lot of people in that

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category why should he not vote for that

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kind of a regime so that is a danger for

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the indan in the long time I hope people

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will realize the dangers of

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irresponsible dolls and uh I I am very

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confident India ultimately as a whole

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will reject that kind of unhealthy

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economic um

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pattern pinu uh you know you've always

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been a great stock picker and you've

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always believe that India is a stock

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specific story not today not tomorrow

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but where is it that you think one could

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deploy fresh money to work whenever the

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dust settles

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down uh to be frank I I don't do not

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have any particular segment other than

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what I told the oil and gas sector in

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the among the psus uh they have not

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taken part in a big way or they haven't

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gone into Euphoria yet so they are

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correcting today maybe some more time so

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that is one sector and there are very

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good companies large companies you know

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uh lacks of crores market cap 50,000

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crores one lakh crores and we have o

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this year 3.5 lakh crores so so that

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could be a sector which is going to do

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well uh provided this government

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continues and they are well managed

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that's also very important I'm not

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telling the other side uh you know

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everybody's bad they don't manage indan

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companies well not that way you know

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when it's a coralation of too many uh

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you know not similar thinking parties

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everyone knows it's not good for the

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nation especially with regard to the

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economic growth and in within that you

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know with the long in the longterm

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trajectory of the economic

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growth uh that's always a challenge uh

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but we are not going to face such a

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challenge in the near future so I I

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strongly feel investors should uh not

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panic um and uh wait for the Real

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Results I don't I I personally believe

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NDA will manage to form the government

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and it may not be a very strong

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government like earlier so there cannot

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be you know they have to compromise on

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some of the uh out of the box very uh

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very uh big reforms if they have in mind

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uh there can be challenges in those

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regards otherwise um India is going to

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shine continue to shine and uh uh we are

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going our economy is going to grow in a

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super superlative manner so Indian

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Equity investors will have good times

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but this kind of sharp Corrections it's

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nothing but an

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opportunity this is not a major Trend

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reversal right because there is small

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section of the market who believe that

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there's a major Trend reversal under

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play there is risk that the uh current

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leadership if they make it with

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alliances they will still be forced to

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become slightly more towards the rural

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side you know doing measures towards the

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rural side of the economy become

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slightly populist so the focus on capex

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and capital creation infr get diluted is

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there a legitimate fear in your

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view fear I agree with you to some

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extent that's what I told that could be

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some difference in policy making uh with

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regard to you know the the big ticket

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reforms if they have in mind whatever uh

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we have been discussing about here there

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will be a sober attitude and this is

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also a wakeup

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call to BJP to the leadership and you

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know uh even to the our inv fund

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managers and analyst it's a wakeup call

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we have to be alert we have to be more

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conservative cannot take everything for

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granted okay so that's the latest coming

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in as far as India is concerned and the

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political mandate that we have at our

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hands but it's really a bit Topsy tuy

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right now pinju because uh the leads for

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BJP seem to be a bit constricted right

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now to that 4 240 mark and as people

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believe there could be some permutation

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combinations that play as well though

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NDA is still leading on around 294 seats

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but I remember having this conversation

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earlier when you were saying that India

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is just perhaps um you know the way

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China was growing India is perhaps just

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a few years behind China do you think

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that entire thesis goes for a bit of a

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toss do we get delayed in that story uh

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as well given the fact there's a bit of

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an uncertainty right

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now yeah that can be this what is

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happening today could lead to some kind

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of uncertainities delays in some of the

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reforms and process for India that is

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definitely uh is a negative uh but to

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what extent investor should be worrying

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about it in general it's another

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question uh you know we have we have

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seen many such things happening in our

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economy in our Market in the last

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decades uh political leadership changing

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uh you know ultimately after the

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election you know after a week or two

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things come back to normal India is

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India don't worry about much you know we

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will continue to be democracy actually

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what's today you know it's it's showing

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that strength of democracies and

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democracy is very strong EMS are working

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and we are one of the best nations in

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the world not only economically and

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politically you coming in pin thanks so

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much for making time and speaking with

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us today it's a fairly volatile day but

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uh good to be chatting with you on such

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a day if you like this video then like

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