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DSP Blackrock MF bullish on infrastructure space

This article was posted on Jun 10, 2009 and is filed under Stock Views

Anup Maheshwari of DSP Blackrock MF is bullish on infrastructure space.

Maheshwari told CNBC-TV18, “It is safe to say there is some exuberance in infrastructure sector. We are very bullish on infrastructure, we have a fund as well there but valuations are running a little ahead of themselves at this point. There is a lot of expectation that got built in. We know from history that when you are talking of infrastructure, there is always a time element and things go a little slower than you would expect them or want them to be. But there are parts of infrastructure that we very bullish on like power for instance; we would be willing to buy at any point in time irrespective and valuations are still manageable, down the entire chain that is the area we are structurally very bullish on within infrastructure. But on other hand something like capital goods, I think we have seen valuations getting stretched to point where we don’t have any comfort buying incrementally in that area.”

He further added, “On the other side you have construction where you will see a lot of business activity picking up and valuations are somewhere in between, little more palatable. So it really depends on which part of infrastructure we are talking about. But broadly from a long-term point of view we are positive on this space.”

source: Moneycontrol

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