Bullish on consumer durable stocks: Fortune Financial Services India
Barring a few months of fluctuation, there has been a consistent performance from that sector and it overall fits very well in the consumption story of India.
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| Updated: In a chat with ET Now, Abhijit Chakraborty, Sr. VP, Institutional Equities, Fortune Financial Services India Ltd., shares his investment ideas.
Why are the markets so excited about consumer durable stocks like Whirlpool, TTK Prestige and Voltas?
Consumer durables have continued to see extremely good growth as has been repeated in the constituents of growth within the IIP also. Barring a few months of fluctuation there has been a consistent performance from that sector and it overall fits very well in the consumption story of India. When we talk about rising purchasing power in urban as well as rural India, there is a lifestyle pattern change that is happening in India. So, all of this is reflecting whether it is television sales or other white good items like microwave oven, etc. There is a consumption pattern and this is the most dominant investment theme that has been in the Indian market for the last couple of years. It is going to continue because even the recent data shows that the private consumption in India is still growing at a healthy pace of close to about 10% which is extremely good. This momentum is going to play in not only discretionary but also in nondiscretionary consumer items.
Why are the markets so excited about consumer durable stocks like Whirlpool, TTK Prestige and Voltas?
Consumer durables have continued to see extremely good growth as has been repeated in the constituents of growth within the IIP also. Barring a few months of fluctuation there has been a consistent performance from that sector and it overall fits very well in the consumption story of India. When we talk about rising purchasing power in urban as well as rural India, there is a lifestyle pattern change that is happening in India. So, all of this is reflecting whether it is television sales or other white good items like microwave oven, etc. There is a consumption pattern and this is the most dominant investment theme that has been in the Indian market for the last couple of years. It is going to continue because even the recent data shows that the private consumption in India is still growing at a healthy pace of close to about 10% which is extremely good. This momentum is going to play in not only discretionary but also in nondiscretionary consumer items.
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