MC Interview: BFSI, auto, pharma sectors may post healthy numbers in Q2FY24, says HDFC Securities' research head
If Iran is seen as helping Hamas in the latest conflict and fresh sanctions are imposed on their oil exports, then crude prices already rising under tight supply situation could see even higher prices, says Deepak Jasani of HDFC Securities.
Deepak Jasani is the Head of Retail Research at HDFC Securities
"Sectors such as BFSI (banking, financial services and insurance), auto (on a low base), and pharma may post healthy numbers," feels Deepak Jasani, Head of Retail Research at HDFC Securities, in an interview to Moneycontrol. He feels media companies could have a better quarter due to sporting events, G20, and increased political advertisements and media spend by consumer companies.
However, a slowdown in global trade will have a dampening impact on chemicals and textile sector results, while the agrochemicals industry is expected to face a pricing pressure in case of generics due to falling prices in China and unpredictable weather patterns, says the chartered accountant with more than sixteen years of experience in capital markets.
Do you think Israeli–Palestinian conflict is a major risk for the equity markets? Further, will the conflict push oil prices higher?
India is the world's third-largest importer of crude oil. If Iran is seen as helping Hamas in the latest conflict and fresh sanctions are imposed on their oil exports, then crude prices already rising under tight supply situation could see even higher prices.
When oil prices soar, it often leads to higher prices for everything that can trigger inflation and slow down economic growth. It may also lead to prolonged elevated interest rates. Many sectors are already under pressure due to the rising energy costs. In view of the forthcoming elections, final prices of fuels (petrol, diesel etc) may not be revised upwards despite the rise in crude oil prices. To that extent, the impact on inflation may be contained.
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