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market | IST

Pharma and IT's leadership will not go away anytime soon: Alchemy Capital

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The pharma and IT sectors will continue to perform well as both are coming out of a consolidation phase, said Hiren Ved, Director and CIO at Alchemy Capital on Wednesday.

The pharma and IT sectors will continue to perform well as both are coming out of a consolidation phase, said Hiren Ved, Director and CIO at Alchemy Capital on Wednesday.
“I don’t think that the leadership of pharmaceuticals and IT is going away anytime soon. Pharma is coming out of a five-year consolidation phase and IT is coming out of a ten-year consolidation phase. These long-term trends don’t die out so quickly," said Ved in an interview with CNBC-TV18.
According to him, the auto sector will revive.
Ved said that he was relieved looking at the way the corporate sector has adjusted to the pandemic in Q2 results. “After a long time, we are seeing an earnings upgrade cycle,” he said.
According to him, the non-performing loans (NPL) situation that everybody was fearing, because of the lockdown, seems to be much better than what was anticipated. “As the economy recovers, things will get better from here onwards,” he said.
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