January 9, 2024 | Posted in News
Private banks and insurance companies are among the pockets of opportunity in the financials space, while information technology will soon shed the worries around slowdown and become attractive again, according to Q India (U.K.) Ltd.’s Arvind Chari.The chief investment officer at the Quantum Advisor Pvt.-affiliate told NDTV Profit that a pick-up in credit growth due to private capex plans can improve the performance of private banks….
Private banks and insurance companies are among the pockets of opportunity in the financials space, while information technology will soon shed the worries around slowdown and become attractive again, according to Q India (U.K.) Ltd.’s Arvind Chari.
The chief investment officer at the Quantum Advisor Pvt.-affiliate told NDTV Profit that a pick-up in credit growth due to private capex plans can improve the performance of private banks.
Giving an overview of his portfolio, he said that 35% is allocated to financials, followed by consumer discretionary (20%), information technology (15%), utilities (7%) and healthcare (5%), as of November 2023.
In terms of IT, which has largely seen a disappointing 2023, Chari said the fund is not as bearish on the sector as the market is. “In 2014, there was a worry digital will disrupt IT, but they became beneficiary. They may be a big beneficiary of AI also. Worry over AI and global slowdown should normalise.”
The current consumption slowdown has dampened sentiment, but a gradual recovery will aid consumer discretionary margin and sales, he said.