Harsha Upadhyaya bets on these two sectors

Harsha Upadhyaya believes banking is one of the few sectors that currently offers valuation comfort along with reasonable growth prospects in the medium term.

Besides banking, the President and Chief Investment Officer at Kotak Mahindra AMC also advises a preference for large caps, citing their relatively safer position as opposed to mid and small caps, which currently pose higher valuation concerns and carry inflated earnings expectations.

While Kotak AMC has positions in some IT names, Upadhyaya clarified that it is not an overweight position in the portfolio. He attributed this decision to the patchy business momentum in the overall IT sector, stating that many other domestic sectors are currently offering better growth opportunities.