ICICI Pru sees IT, pharma & telecom as contra bets; likes large corporate banks

With markets close to all-time highs and full focus on how goods and services tax (GST) will impact equity market, the monsoon impact and global cues, Head of Research at ICICI Prudential AMC to know how they are looking at all these developments in terms of equity investments. There are likely to be some disruption for the sector due to GST, but also because they are fairly expensive. Margins for them are also at all-time highs, while volumes have collapsed. All these are not good signs and aer similar to what happened in early 2000’s where they went through long periods of earrings sluggishness.

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