Business looking up for retail stocks: Phani Sekhar, Angel Broking

Phani Sekhar, Fund Manager-PMS, Angel Broking, in a chat with ET Now gives his views on reatil stocks


What is the expectation here on the FDI front and particularly out of retail?

FDI in multi brand retail will come in some form or the other, might not be 100% as per the industry’s expectations but the beginning will be made and that will be sufficient to actually evoke interest in many of these retail stories. It is positive as far as raising capital is concerned but on the ground the way things are panning out, business is looking good for most of these retail stocks but a majority of them cannot be justified at the valuations that they are trading at. So business is looking up but I am not so sure about valuations.