India's L&T Mutual Fund is betting on engineering and capital goods shares as the economy rebounds and the government steps up spending to fix the country's creaky infrastructure, a top fund executive said on Monday.
Sanjay Sinha, who oversees about 26 billion rupees as chief executive for the firm, said investments in the infrastructure sector greatly lags what was required in India's Five Year Plan that ends in 2012.
"The government's focus will be to accelerate execution," he said, adding engineering and capital goods sector would be a direct beneficiary of that.
India has estimated it needs $500 billion over the five years to 2012 to upgrade its overwhelmed airports, potholed roads and inadequate utilities.
Source : http://in.reuters.com/article/domesticNews/idINSGE61M04120100223
Sanjay Sinha, who oversees about 26 billion rupees as chief executive for the firm, said investments in the infrastructure sector greatly lags what was required in India's Five Year Plan that ends in 2012.
"The government's focus will be to accelerate execution," he said, adding engineering and capital goods sector would be a direct beneficiary of that.
India has estimated it needs $500 billion over the five years to 2012 to upgrade its overwhelmed airports, potholed roads and inadequate utilities.
Source : http://in.reuters.com/article/domesticNews/idINSGE61M04120100223
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