There is great interest in exchanges: Sonam Udasi, IDBI Capital

In a chat with ET Now, Sonam Udasi, IDBI Capital shares his views on stocks.

ET Now: There were couple of announcements on FT and MCX with regards to them getting the permission to have interest rate derivative contracts and equity derivative contracts as well all of that coming up, the equity exchange starting up probably in a month and a month and a half’s time from now, do you have a view here?

Sonam Udasi: No, frankly this is naturally good news for both the companies. There is great amount of interest in exchanges especially in India. We have seen what has happened to stakes in NSE that people have bought into. So there is really a concept view that would be taken in exchanges. You have also seen what has happened to rating agencies and the kind of re-rating those have got.

So it will be interesting times for them and as news flows continue, the stock would tend to go higher. The only thing is that once the re-rating is done after 6 or 8 months, how on the field they perform, that will determine the longer term attractiveness or the PEs of those companies.