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Positive on discretionary side of consumer space; selective on PSUs, says Julius Baer's Rupen Rajguru

market | Jun 23, 2021 4:31 PM IST

Positive on discretionary side of consumer space; selective on PSUs, says Julius Baer's Rupen Rajguru

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Rupen Rajguru, Head of Equity Investments and Strategy at Julius Baer, in an interview with CNBC-TV18, said, “From global perspective, we are in for some growth which we haven’t seen for decades.”

Rupen Rajguru, Head of Equity Investments and Strategy at Julius Baer, in an interview with CNBC-TV18, said, “From global perspective, we are in for some growth which we haven’t seen for decades.”

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According to him, consumer staples might have a little bit of hit because of the second wave of COVID-19. “However, those are very solid companies with very strong cash flow generation. So, those are the hiding place,” he added.
He is positive on the discretionary side of consumer space. “On the discretionary side we are tad positive. However, on the staple side we are neutral to negative because of the valuation rather than anything else,” he further added.
In terms of public sector undertaking (PSU) stocks, Rajguru said, “We like some of the PSUs, which are leaders in the segment. We are selective amongst them and in some of the selective sectors on the utility side or on the banking side we are constructive.”
“From the portfolio perspective, we are playing with the economic sensitive sectors beginning with financials, also with early cyclicals, which can be cement, industrials. We are positive on the overall private capex cycle as well,” he said.
"We are turning a little bit positive towards exporters, which would essentially be healthcare and IT,” he stated.
For the full interview, watch the accompanying video.
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