India second-best emerging market; like PI Industries, Asian Paints, Tata Consumer: O’Neil Global Advisors

Randy Watts, CIO of O’Neil Global Advisors, on Tuesday said India is the second-best emerging market right now and the country will get a lot more foreign investments as businesses shift from China.

“India will get a lot more foreign money as businesses will migrate from other EM regions to India and particularly from China,” said Watts in an interview with CNBC-TV18.

“I feel great about the Indian market in long term. I would be looking at some point for either a pullback or sideways consolidation,” he said.

Watts likes technology and healthcare spaces in India. In terms of stocks, the top picks are PI Industries, Asian Paints and Tata Consumer Products.

“We like technology, healthcare and one name we like is PI Industries which is one of the top 15 companies in its industry,” said Watts. “In terms of getting more cyclicality, we have been looking at Asian Paints as opposed to some of the truly cyclical companies,” he said.

“We also like Reliance, Infosys and Tata Consumer Products,” added Watts.

For the entire interview, watch the video

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