NDTV Profit INVEST 2029: Market Gurus Bring You Strategies For Next Five Years

"Sentiments override valuations in a bull markets. Need to look at valuations, we are not bigger than markets. Capital goods stocks still have a long runway," said CK Narayan.

"Gold will beat benchmark equity returns in next one year. You’ll see gold at $3,000/Oz in next couple of years," said Gautam Shah.

He also said the next one year could see a comeback of both public and private banks and metals will outperform the nifty in next 12 months.

"Entire PSU basket was a shunned area in the past. Modi government revamped the entire PSU space and made it a loved sector. PSU stocks are prominent among the ‘Modi group stocks'. Don’t see big time selling in PSUs due to the strong order book," CK Narayan said.

"Continuity will still be there in the PSU sector. Would buy PSUs even at the current price," said Kush Bohra.

"There is a basket of PSUs that are playing the India story, but not a big fan of PSUs in defence and railways space," said Gautam Shah.

"Entire PSU basket was a shunned area in the past. Modi government revamped the entire PSU space and made it a loved sector. PSU stocks are prominent among the ‘Modi group stocks'. Don’t see big time selling in PSUs due to the strong order book," CK Narayan said.

"Continuity will still be there in the PSU sector. Would buy PSUs even at the current price," said Kush Bohra.

"There is a basket of PSUs that are playing the India story, but not a big fan of PSUs in defence and railways space," said Gautam Shah.

"SIP numbers are significant, every new money is not chasing the large caps. Midcaps are the place to be for the next 10 years and they’ll outperform," Kush Bohra said.

"Markets reaction to the results was very emotional. Markets made a matured comeback after the election results. Charts are in great shape, it is going to be a stock pickers markets in next 6 months."

"We all wish 50,000 on nifty becomes a reality in next 5 years. Cycles may change but they pretty much hold the same pattern. Lead-up to the election was a little hesitant in the markets. Results moved the trend from certainty to doubt. Questions will remain in the minds of investors, which may prevent a run-up in the 2nd half," CK Narayan said.

"We all wish 50,000 on nifty becomes a reality in next 5 years. Cycles may change but they pretty much hold the same pattern. Lead-up to the election was a little hesitant in the markets. Results moved the trend from certainty to doubt. Questions will remain in the minds of investors, which may prevent a run-up in the 2nd half," CK Narayan said.

The third and final panel discuss short and long-term trends of Indian stocks. Hear from Gautam Shah, Dr CK Narayan and Kush Bohra. 

The third and final panel discuss short and long-term trends of Indian stocks. Hear from Gautam Shah, Dr CK Narayan and Kush Bohra. 

"Regional parties will see power transition in next 5 years and they’ll need BJP for that. One round of ‘flip-flop & hopping’ is pending in Maharashtra, don't know when will it happen," Amitabh Tiwari said.

"Pulls and pressures are a part of coalition government, JDU and TDP extract their benefits. TDP and JDU genesis is anti-congress," Amitabh Tiwari said.

"Only 26% people voted in the name of the prime minister this time, as per the CSDS data. NDA lost 30% seats as compared to 2019, and the gains were not even 10%. If you take Uttar Pradesh out of the count, NDA would have gained the required majority," Amitabh Tiwari said.

"The numbers for NDA were even lower than the stress case as per my analysis. In the absence of national narrative, election became fairly localised. Opinion polls went wrong because most parties had not announced their candidates by the end of phase 1 of polls," political analyst Amitabh Tiwari said.

"There can be significant political challenges for India at the state level. Unemployment is a big challenge on the economic front. Don’t know when unemployment will playout in the stock markets. Need to challenge ourselves and keep doing continuous reforms," Kela said.

"As the US economy slows down, the pain will intensify. Secondly, Indian IT companies are seeing more competition from GCCs. They are poaching people. These are not easy to handle issues," he said.

Moreover, the valuations are too high and there are not done with job cuts yet he said.

"There is a very big liquor market and a lot of reform is needed in this sector. Profits in the liquor market will dramatically improve. Cost of raw material in the production of liquor doesn’t change," Madhusudan Kela said.

"As India prospers, nation needs to build a lot of housing. Cost of construction per sq ft will have to keep growing in India. The quality of the construction needs to keep growing," said Neelkanth Mishra.

"Investment in urban infrastructure is important, need to dramatically re-think it. Corporate sector is definitely contributing to the growth of the real estate sector," Madhusudan Kela said.

"As India prospers, nation needs to build a lot of housing. Cost of construction per sq ft will have to keep growing in India. The quality of the construction needs to keep growing," said Neelkanth Mishra.

"Investment in urban infrastructure is important, need to dramatically re-think it. Corporate sector is definitely contributing to the growth of the real estate sector," Madhusudan Kela said.

The government may not be looking at disinvestment in PSUs now as the valuations have increased, Madhusudan Kela said.

"Valuations are unsustainable in some areas of the PSU basket. It is comfortable in buying PSU banks. A lot of retail investors are buying PSU stocks at random," he said.

The government may not be looking at disinvestment in PSUs now as the valuations have increased, Madhusudan Kela said.

"Valuations are unsustainable in some areas of the PSU basket. It is comfortable in buying PSU banks. A lot of retail investors are buying PSU stocks at random," he said.

The government may bring down FY25 fiscal deficit target to 4.9% in July from 5.1%, said Madhusudan Kela.

"One of the reasons that indiahas garnered a premium is macro-economic stability. Modi government in third term will definitely last for 5 years. India has a very strong balance sheet and it has significantly strengthened in last 4-5 years."

"My view there will not be meaningful change in policy-making. Be it NDA or any other govt everyone looks for development. TDP chief, Chandrababu Naidu, is with NDA and he has always been pro-development," said Madhusudan Kela.

"My advice during exit polls was ‘do opposite of what market does'. In the near term markets Willget impacted by the fiscal stance," said Neelkanth Mishra.

"The impact of the central government on near-term growth and earnings is insignificant. They matter for growth in 10-15 years later. Reforms like GST deliver are messy and painful and they deliver return over a long period. The impact in near-term is through fiscal policies. Most factors of production is controlled by state governments," said Neelkanth Mishra.

The first panel with Madhusudan Kela and Neelkanth Mishra discuss what does the third NDA term mean for the Indian Investor.

Prime Ministers have come and gone, but India's equity kept rising despite short-term shocks. With the Bharatiya Janata Party-led National Democratic Alliance set to form the government for the third term, the stock market was hit by significant volatility on the counting day.

Since the launch of India's oldest stock exchange, the benchmark gauge—S&P BSE Sensex—saw the maximum rally of nearly 400% from May 22, 2004 to May 26, 2014, during the tenure of Manmohan Singh.

This was followed by Narendra Modi's double stint as the Prime Minster from May 26, 2014, when the Sensex rose a little over 202.16%.

Atal Bihari Vajpayee's short first stint from May 16, 1996 to June 1, 1996, was the only time the benchmark saw a decline.

Shape your five-year investment strategy as the new government term commences. NDTV Profit brings you some of the best stock market voices in an interactive discussion to help identify the multi-baggers and understand other fundamentals to build a solid portfolio and get a head-start your wealth creation journey.

The event is being held at the National Stock Exchange in Mumbai's BKC.

Here are the panels:

• Panel 1: What does the third NDA term mean for the Indian Investor with Madhu Kela, Neelkanth Mishra.

• Panel 2: Decode the Indian political landscape and policies of Modi 3.0 with Amitabh Tiwari.

• Panel 3: Short and long-term trends of Indian stocks with Gautam Shah, Dr CK Narayan and Kush Bohra.