Being cautious about such impacts on exports, he said: “It could be IT services or capital goods sectors or even ancillary exports of automobiles,” he said.
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In terms of opportunities, he believes that the industrial and capital goods sectors of the economy continue to deliver good numbers (sales and growth) for almost the last 14-15 quarters.
Three market segments that have not seen substantial appreciation are fast-moving consumer goods (FMCG), private sector banks and information technology.
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There is a need to identify opportunities between these sectors, he said.
Speaking about the earnings season, Devalkar mentioned that while earnings growth this season is in line, it lacks widespread updates and this remains a more fundamental challenge.
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