Good time to buy stocks; pharma looks reasonably valued: ICICI Pru AMC

It’s a good time to buy stocks for a patient investor, said S Naren, ED and CIO of ICICI Prudential AMC, on Monday, adding that “pharma looks reasonably valued at this point in time.”

“Technology is priced for growth and FMCG has always been priced for growth even if it doesn’t deliver growth. So pharma and utilities are the two sectors which look reasonably valued at this point in time,” he said.

Naren further said that he is not too worried about growth for now. “Yes, near-term there is a problem of growth in many sectors and there has been a problem, but when you have so many IPOs getting traded on 2027 earnings – I do not worry about investing in stocks where the current growth is bad, but eventually growth will pick up,” said Naren.