Morgan Stanley’s Ridham Desai has this good news on growth; check top stock picks

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Updated: November 20, 2019 4:10:41 PM

Even as the economy sees a slowdown, India’s GDP growth is expected to recover in the early part of next year, said a veteran investor.

Economic downturn, GDP data, DBS Bank, GDP report, industrial production, Headline growth, Indian rupeeThe flow of FIIs into India is expected to increase in the coming days, Morgan Stanley’s Ridham Desai said.

Even as the economy sees a slowdown, India’s GDP growth is expected to recover in the early part of next year, said a veteran investor. The global economic slowdown has troughed out and the recovery is expected from the first quarter of 2020, Ridham Desai, India equity strategist, Morgan Stanley, told CNBC TV-18. In addition, the flow of FIIs into India is expected to increase in the coming days, Ridham Desai said. The situation is improving for the Indian markets as the global investors are showing interest in Asia amid the ongoing US-China war, Ridham Desai also said.

Sharing investment advice, Ridham Desai said that financial companies, private sector banks and selective NBFC stocks are good bets. The recent moves in the telecom sector and Essar Steel judgment bode well for the profitability of the companies, he added. Even the energy sector is a good bet, Ridham Desai also said.

Also read: PSU banks beat private sector lenders; show substantial improvement on this metric

The indicators for stock markets are currently mixed, but trending up rather than down, Ridham Desai told ET Now a few days back. Adding, he said that the Indian equities are expected to beat the emerging market index in the coming 12 months. Ridham Desai continues to back domestic cyclical mid-cap value stocks from a portfolio perspective. The stock markets are on a high for some time now. Earlier this year, Ridham Desai MD of Morgan Stanley had said in an interview with CNBC-TV18 that he expects the index to reach 30,000 points — that’s for NSE Nifty, not for BSE Sensex — in the next five years, on the back of renewed consumption, greatly improved exports and infrastructure spending by the government.

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