Bullish on media, textiles and infra stocks: Niraj Dalal, 3A Capital Advisors

In a chat with ET Now, Niraj Dalal, 3A Capital Advisors, shares his top investment themes.

ET Now: You are of view that the last six to nine months were great for making equity investments. Kitex was a stock that you bought a year ago and, now, the stock price is quadrupled. If you are at a liberty to mention names, what else is looking interesting to you? It could be a theme or stock.

Niraj Dalal: The theme has remained constant. I have been very bullish on the media, pharmaceutical and PSU banking space. Other than that, there are a couple of individual stocks in the gaming industry, which I really like. Textiles is another theme, which is catching up. So that is another sector to look out for. One sector which I keep mentioning every time, but scared to speak about is infrastructure. That is a sector that one must really investigate and look out for. In the next three to four years, those stocks are going to make a lot of money. You will need a lot of courage and a lot of conviction to invest in the infra theme, given the returns have done in the past two to three years. But the opportunity is there.

ET Now: Is it primarily the road sector companies that are attracting you?

Niraj Dalal: I would think anything that has to do with infra — the companies which are taking care of their balance sheet and are executing projects.
Well-managed companies with less-stressed balance sheets and fair valuations in the infrastructure space looks good for the next two to three years. Here, I am stressing less-stressed as most companies in the sector are stressed.
You will have to take a little bit of risk, but you can minimise it to the extent you can and the next three-four years will be very good for the space.