Mahesh Nandurkar says pvt sector capex on the rise; 3 sectors to be cautious about in short and medium term

Jefferies' Mahesh Nandurkar recommends caution for IT services, select PSU names, and mid to small-cap stocks, citing high valuations. He highlights significant private sector investments in sectors like steel, cement, and infrastructure, contrasting with limited government capex growth. Nandurkar further anticipates a cautious market outlook over the next 6-12 months.