Discussing fundamentals of the market, Sunil Subramaniam, MD & CEO of Sundaram Mutual Fund stated that he would significantly increase exposures in economy sensitive stocks.
In an interview with CNBC-TV-18, he stated that India is likely to take about nine months to come back and is the fastest-growing economies in the world.
“I believe that the budget was not just about action, it was about direction. The reforms planned the PLI announcements clearly indicate and South Korea is the only country which is going to get back to pre-COVID absolute GDP levels faster than India," he pointed out.
On opportunities in market Subramaniam said, “So capital goods supply, building materials - cements, steel, paints, and the likes and those would be the bets because those order books are not yet showing so buying before that - if you do a lot of research to see who is likely to back those orders because when the news comes the price jumps. So we have to catch it before the news.”
He further added that consumer discretionary looks good for a shorter time frame.