Infra project may take a hit when interest rate go up: Avendus Capital

In a chat with ET Now, Girish Nadkarni, Executive Director, Avendus Capital Pvt. Ltd., shares his trading ideas.

What is the call on infrastructure?

Infrastructure is a call that a lot of people have gone wrong on, but there is a definite amount of infrastructure spending but when interest rates go up, the economics of these projects take a hit. Having said that, we have seen all the power stocks being hit very badly and therefore on the broad market on midcaps and some of these power stocks, you could see them very close to their bottom right now because everything on interest rates has been built in the prices at the moment.