Srinivas Rao Ravuri, CIO-Equities of PGIM India Mutual Fund on Monday discussed some of his top holdings and the outlook on the markets.
He said that he is seeing very strong earnings growth for both large and midcap IT companies. According to him, earnings growth will be around 30 percent for this year.
However, he is underweight on financials for quite sometime.
Speaking on underperformance of insurance, he said that valuation is the main reason here.
Meanwhile, Indian equity benchmarks Sensex and Nifty50 ended a volatile session higher on Monday tracking strength across most global markets, though investors remained cautious amid concerns about the Omicron variant of COVID-19.
Gains in financial, IT and healthcare stocks aided the rebound in the market. Broader markets also strengthened, with the midcap and smallcap indices rising 0.2-0.4 percent. RBL Bank shares plunged after a top executive stepped down and the RBI appointed an executive to its board. HP Adhesives shares made a strong debut on stock exchanges.
(Edited by : Anshul)
First Published: Dec 27, 2021 6:26 PM IST
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