 "US immigration Bill can have significant effects on IT stocks: Sachin Shah")
As we come towards the end of Smart Portfolios' fifth season, Sachin Shah, fund manager from Emkay, tells Jinsy Mathew about his preferences in the current market. Edited excerpts.
After being on the sidelines, you have been active over the last two weeks as the markets have corrected. Are you following a 'buy on dips' strategy?
Yes, it's a buy on dips move, as the valuations for some of the blue chips got quite attractive at lower levels of markets.
Your portfolio is heavy on finacials. What's your reason for conviction on financials?
Financials are the backbone of any economy, also the weightage of the sector in the Nifty is the highest at nearly 30 per cent. Hence, when the market heads north, financials are bound to see an uptick.
There are hardly any IT stocks in your portfolio. Is it an avoid at the current levels?
The immigration Bill proposed in the US Senate can have significant adverse effects on Indian IT companies. Hence, I am staying away from IT names for the time being.
Which are the pockets that interest you in the current market scenario?
Some of the pharma and media companies could be interesting picks as both these sectors look promising for the next two to three years.
After being on the sidelines, you have been active over the last two weeks as the markets have corrected. Are you following a 'buy on dips' strategy?
Yes, it's a buy on dips move, as the valuations for some of the blue chips got quite attractive at lower levels of markets.
Your portfolio is heavy on finacials. What's your reason for conviction on financials?
Financials are the backbone of any economy, also the weightage of the sector in the Nifty is the highest at nearly 30 per cent. Hence, when the market heads north, financials are bound to see an uptick.
There are hardly any IT stocks in your portfolio. Is it an avoid at the current levels?
The immigration Bill proposed in the US Senate can have significant adverse effects on Indian IT companies. Hence, I am staying away from IT names for the time being.
Which are the pockets that interest you in the current market scenario?
Some of the pharma and media companies could be interesting picks as both these sectors look promising for the next two to three years.