homemarket NewsPositive on cement, infra space; remain selective on global commodities: Kotak AMC's Harish Krishnan
Positive on cement, infra space; remain selective on global commodities: Kotak AMC's Harish Krishnan
Executive Vice President and Senior Equity Fund Manager at Kotak AMC, Harish Krishnan, has seen a very different market from a consumption point of view over the past 12 months. In conversation with CNBC-TV18, Krishnan shared that he was positive on Indian local commodities like cement, where the company has a large exposure.
Executive Vice President and Senior Equity Fund Manager at Kotak AMC, Harish Krishnan, has seen a very different market from a consumption point of view over the past 12 months. In conversation with CNBC-TV18, Krishnan shared that he was positive on Indian local commodities like cement, where the company has a large exposure.
He said, "As things normalise over six months from now, when you have vaccinations and herd immunity completed and the whole of western world opens up, a lot of dollars are going to get spent which are not necessarily commodity heavy in that sense. So it will be an interesting dynamic to see how that plays out. We are definitely more positive on Indian local commodities -- notably cement. That is one space we have a large exposure to."
"As far as the global metals are concerned, we are far more selective," he added.
"Infrastructure has hardly played out. It is a theme that is massively underperformed. Corporate India had gone through a massive deleveraging, government had shifted gears in between now and over the last three-four years and has gone back into infrastructure. Housing has been in a rut for seven-eight years. If you have a slightly medium-term view, we would be extremely positive on this space coming back. If you take a slightly more medium-term to longer-term view, we are extremely positive on the overall space," Krishnan highlighted.
"During the course of the last 12 months, we have been primarily focusing on business within a particular sector that have taken up market share. One is hypothesising that a lot of these market share gains can stick on as the economy normalises. During the pandemic significant amount of habits may have changed to buy branded products. Our bet is that as purchasing power comes back and things normalise, these franchises which have done the hard work in terms of gaining share will make the most out of it over the course of the next three-four years. We have a lot of those franchises in our portfolios," he said.
Watch the video for the complete interview.
(Edited by : Jerome)
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