Right time to balance portfolio; bullish on eClerx, Firstsource, Cyient, and Kajaria: Buoyant Capital’s Jigar Mistry

Jigar Mistry, co-founder of Buoyant Capital, in an interview with CNBC-TV18, said now is the time to balance one's portfolio, not to look at increasing risk in your portfolio but giving some sort of safety over the course of the next month or in two months.

Mistry is looking at buying businesses and cash flows that provide an inflation hedge, companies which have some assets on the ground with a reasonable debt and buying business with a predictable cash flows rather than growth cash flows.

“Within this framework, the broad sector that constitute is something like banks, some oil assets, building materials, global commodities and reopening trades. Reopening trades and IT are two sectors that we are working on a lot more these days,” he said.

“One stock we have discussed is Aditya Birla Fashion and Retail Ltd (ABFRL). Over the course of last month, we have bought a business called Indian Railway Catering and Tourism Corporation (IRCTC). That is a very interesting business for a few years to hold,” he pointed out.

The other space Mistry likes is IT-enabled services. “The three stocks we like there is eClerx Services, Firstsource and Cyient,” he said.

He is also betting on Kajaria Ceramics. “It could be volume growth plus pricing action that I think makes us interested in the tiles sector. Kajaria is the best player in that space, so that is our preferred pick in that sector,” he mentioned.