EM a Risk-on-Trade play; Infy & TCS are well Run

The emerging market rally is a risk-on-trade dependent on relative attraction, he said, adding that India is also drawing attention, given it is in a strong spot across households, individuals. Although he sees the rally as a welcome relief, he doesn’t see a full-on multiple sustainable rally across various sectors in India. 

 

On a long-term view, valuations are attractive, he said. "Liquidity situation is the key driver for the decision-making…you will have to put valuations aside.” India, he said, has an investment opportunity for the long-term. He is bullish on Infosys and TCS , two home-grown software giants which have invested wisely in quality talent. 

 

“We like the cash they are generating, current leadership.” He has a call rating on HDFC Bank. He remains invested in ICICI Bank and Kotak Mahindra Bank . “They are focussed on the niche they service,” he said.

 

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