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Infra stocks had a strong run in 2023, delivering 42% return at a sector funds average level even as the sector benchmark delivered a huge 59% return.
Is this an action replay of 2007 – a time when infra stocks topped out amidst retail frenzy in this sector? Vishal believes the sector has a long growth runway ahead but cautions that parts of this sector are now seeing stretched valuations and demand a very cautions approach.
Sticking to quality is of paramount importance in this sector, especially when the initial strong move in stock prices have propelled all boats – quality as well as non-quality players. As this bull market in infra matures, quality stocks will continue building momentum while others may fadeout.
Vishal believes his stringent adherence to quality and sustainability in the Canara Robeco Infrastructure Fund will enable the fund to deliver healthy performance over the market cycle, even if some periods see it marginally underperforming the peer set.
Private sector capex to happen is good info. Infra theme will run for longer.
The discussion is an eye opener. I had burnt a good portfolio in 2007 due infra fund. The interview thows fresh look into the theme.
very good information
