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If you have an appetite to lose further 25% than you should, explore and then you should find out the dips. So but ultimately all sto stocks are not going to become ah zero you know. So, there could be value in this market, but more than the value, you should have the guts to buy at a price you know.
That is more important. What can investors expect at a time when markets are volatile. Joining me to talk more on this is Vijay Keria. Who is the Founder and MD of Kai Securities. Thank you for joining us to NDTV Profit. A sir what is the reason the market you know Indian markets are being hit is it the oil search which has now been at a better place now the prices are reducing so what do you think are the reasons the market is being super volatile no of course because when there is fire in your neighbourhood then you have to be you know you should be panicky should be there so this is what is happening obviously the main reason is the petrol like crude it is I think it was 120 so from 75 80 it jumped to 120.
So, of course it can change the equation on the economy of all the entire world as we all know. So, that was the reason and the biggest reason I think nobody knows that what is going to happen? How for this war is going to continue and when it is going to end, nobody knows and what would be the impact on the shipping, what would be the impact on the freight, what would be the impact on petrol?
What would be the real impact? That nobody knows. So when the market is in this kind of confusion that time volatility happens that is the nature of the market. The same thing is happening in this market. Yeah. So do you expect the market has reached a buy- on-dip and investors should wait it out a little more before going into the market and staying in cash?
No it is very difficult to say because the market has already fallen in mid cap and small caps are already down 40- 50% from their peak. So if you have an appetite to lose further 25% than you should know, explore and then you should find out the dips. So but ultimately all stocks are not going to become zero you know.
So there could be value in this market, but more than that, the value should have the guts to buy, you know, at this price. That is more important. So I think personally if you ask me I would never like to catch the bottom. I am happy if the market makes a bottom and even if if my horizon is for long term and if if I would get a stock costlier than 10% 25 15 20% I am okay with that so what I would say is that it might affect your sleep you know so that I try to catch the bottom let the market stabilize then you can buy nobody is going to reward you your name is not going to appear in Guinness book of world records that you bought at the dip you bought at particular ₹46 ₹6 and a market did not go down even a penny from there.
Nobody is going to praise you for that. So do n't take that credit now that the market settles. And so you are taking on valuations. You have been an expert with mid and small caps. So what is your overall outlook on the valuations right now? I think there are pockets ah where valuation is become really very cheap.
And I always say that a bull market is like sunshine. It is always there somewhere. But you have to be very selective. You have to be very knowledgeable about which stocks you are going to buy. And you have to be quite very patient also that even as I said earlier that even if you buy at the lowest price even then the stock can fall 25% 15 20% from your buying price so you should have that kind of mindset to ah to face that and of course you should have patience as that it is a long term game ah if you have a vision of like that you will buy today and sell tomorrow and may be after 2 months and 3 months six months then you could be in danger.
Sectors you are bullish and bearish on right now and especially in the mid and small cap space. So I am personally bullish on infrastructure companies. I think they have already fallen a lot from their peak made in 2024. So I see some value there in infrastructure and of course some public sector banks also I find that they are also reasonable.
Very cheaply priced, not reasonably priced. So but timing is none to infinite. So, any advice for the investors on how to pick small and mid cap stocks at this time because you said the valuation is now reasonably ah you know valued better. No that depends on what if you understand this story, if you are convinced with the story, then you should buy.
Otherwise it is better to invest through mutual funds. Don't try to be adventurous. A you know end in this market. If you don't understand, if you have some perspective, some formula, some principle, or some knowledge that this is how this sector is going to behave in the next three to four years? If you have some clues, then you should invest directly into this market, otherwise you should invest for mutual funds.
What is your outlook on IT stocks? Because they corrected now, do you feel that IT will bounce back or right now it is not the time to invest in IT because as you also spoke about, that sector is not innovating enough? I will personally not invest in IT companies now even though they have not, they have fallen but I would not invest or your outlook on defence and defence has been running up anyway do you feel this is the time to invest in defence and it has gone beyond the valuation I personally feel they are still expensive so I may be wrong also so I deserve to be wrong so I would personally not invest I usually try to find company which are very very cheap you know compare to the market.
So, I would not invest in defence. Alldo future is very bright. We are seeing what is happening around the world. So of course ultimately the defence is a sunrise industry. I would say it's okay. I am happy with sandwich, not necessary that I will have khichdi. And you have an outlook on the semiconductors and energy sector because a lot of energy issues are happening due to the Middle East conflict mainly.
So, I don't know semiconductor there are I don't know which companies are there are hardly any company listed in semiconductor I don't know. And even because everybody knows what is going to happen with all this semiconductor, data center and AI TI and everybody knows. So, even if you find some company valuation would be very expensive.
So that's not my cup of steak. So advice for the investors at this point especially when you know the markets are going through a rough period. No you will get an opportunity because ultimately war ants. It's not because it's a big war. It is not like a local regional kind of war. It is regional but so many countries are involved in this you know.
And so many rich countries are involved in countries with higher resources like fluid and all involved in this war and may be affected and whatever so it's something it's peculiar thing. So you can do bottom hunting also if somebody likes you if you have some idea but be prepared to lose 20% for the timing and have a horizon of three to four years.
Then you can be successful. And you outlook look at the AI bubble like do you feel the tech companies hi-tech companies which are highly valued is that a bubble that will burst or it still you no dev corrected descent enough that it won't be of risk so there is no hardly there is no company AI listed in this market what people are talking about overseas global yah so maybe I don't think it is a bubble it may settle down like this is same thing happened in white toK also because there was a euphoria then yet white company bust ah ah but ultimately it gave internet to the world.
So I think I think this AI is going to status it is not yet begun only. So maybe there are only some hiccups but ultimately AI is the future. And the last question to you is that you are the one who spots the companies which are coming up? According to you which are the companies which you know you would better on because the startup culture started in India and you know a lot of companies are coming up.
Technology. Only Technology Company. I am discussing with so many companies related to deep tech and technology and AI and what you are saying. So I am finding that opportunity. I am trying to explore some opportunity there in startups unlisted case. Or okay thank you so much for speaking to n't profit.
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