Market veteran Samir Arora, who is the founder of Helios Capital, believes the market may give double-digit returns this year as the worst is over and things are stabilising.
"I expect this year to be positive and double-digit positive. Some of it got delayed a little bit because I was expecting the US to have settled down. But the worst is over and things are stabilising. Though performance-wise India has done badly, we can say that it is related to China and others," Arora said in an interview with ET Now.
Arora said the heating up issues between China and the US will benefit India in some way.
"This issue of China versus the US is heating up and that has a big influence on big picture flows into China and corporates going into China and everything associated with it. India is a beneficiary on that big picture theme and it will be a beneficiary for many years but on the margin, it is a big deal for India," Arora told ET Now.
Arora said that the issues with the US banks may not be over yet even though there is hope that the system can handle it.
Arora said the actual mark-to-market losses of the US banks, particularly smaller and regional banks, may be quite high which means that the system has to remain in stable condition so that there is no panic triggered by these things.
Talking about the new-age tech companies, he said he has invested in Paytm and Zomato.
"Paytm, of course, because of good timing, we are up some 20-25 percent. Zomato, we were up and then it went back, so now we are zero. But both these are big brands, big survivors," said Arora.
"Plus both these guys, that is Zomato and Paytm have a billion dollars cash. So it is okay for now. Both are optionality businesses and so far, so good," said Arora.
Disclaimer: This article is based on an ET Now interview. The views and recommendations given in this article are those of the expert. These do not represent the views of MintGenie.