Wednesday , 16 October 2019
Breaking News

Pay Hike To Lift Auto, Consumer Durable Stocks: Centrum Broking

Abhishek Anand says that cement companies are likely to do well.

Abhishek Anand, fund manager at Centrum Broking, said auto and consumer durable companies are likely to be the prime beneficiaries of the Seventh Pay Commission implementation.

Mr Anand said that generally people tend to increase consumption-based spending first after an increase in income.

“We see demand getting generated for auto and consumer durable led sectors,” Mr Adnad said. (Watch)

Two-wheeler maker Hero MotoCorp rallied 4.51 per cent on Wednesday after the Cabinet approved the recommendations of the seventh pay panel. Maruti Suzuki and Tata Motors shares also gained over 1 per cent each.

Higher wages could also lead to a demand for real estate and this will also boost housing finance companies, he added.

Further, he said that cement companies are looking attractive for investment as demand increase is visible in some parts of the country, which will support further price increase in cement.

Story first published on: June 29, 2016 16:09 (IST)

Tags: Abhishek Anand, Consumer durable stocks, auto stocks, seventh pay commission, housing finance companies