Uncertainty "best friend" of investors, says Raamdeo Agrawal; IT, banking, insurance sectors safe bets, MOFSL Chairman suggests

Investment Mantra of Raamdeo Agrawal: It will be a month since the Russia-Ukraine war began. What has been the impact of the war on the market? Where will the domestic markets find support? Zee Business Managing Editor Anil Singhvi's exclusive conversation with MOFSL Chairman Raamdeo Agrawal.

Russia - Ukraine War
Talking about the war and its impact Agarwal said that the action of alliance countries to isolate Russia is almost like a third world war in economic affairs. The borders of our country are calm but there are storms in the economic borders like trade, cost-sharing, etc. The impact will be seen in the quarterly results.
He also said that the visible impact of the Russia-Ukraine war are almost nil but the invisible impact on business performance, cost structure etc huge.

What is the effect of war on the world economy?
He said that the world economy is region less and completely interdependent. All countries are dependent on each other for various import and export products. So, it is better to be calm at this time and wait for things to get back to normal. He also said that if there was no war then the domestic market could have been at an all-time high for two reasons - Covid and UP elections.

What will be the impact of this global environment on Indian companies?
The chairman of MOFSL said that there are two cuts - manufacturing and services. Services are better but manufacturing is in trouble because of the raw materials used. It's a tough time for physical raw materials as prices continue to get higher.

What opportunities do you see in the market this year? Investment or saving?
Uncertainty is the best friend of long-term investors, Agrawal said. This is the time for the people who understand their company. He suggested being careful of manufacturing companies because anything can happen in it.

India has a very stable political situation and every country which has strong leadership, they are going to have a much better time than the countries that have weak leadership, said Raamdeo Agarwal.

Safe sector for investment
The chairman of MOFSL said services are the safe sector for investment. Services like IT companies, banking, insurance, and all sectors that include services.

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