NIFTY 50

Kotak Mutual Fund upbeat on retail and corporate banks

Updated : November 01, 2018 06:51:12 IST

Harish Krishnan, senior vice president and equity fund manager, Kotak Mutual Fund in an interview with CNBC-TV18 shared his views on the various sectors.

Financials space has become a large weightage within the index and within that, there are three baskets - the NBFCs, the retail oriented banks and the corporate banks, said Krishnan.

Kotak M F is underweight on NBFCs because the big growth that was seen in the last 3-4 years is behind them and are especially averse to wholesale funded names, he said, adding that however, the house is overweight on retail oriented and corporate banks

With regards to consumer space, he said they would hesitate to put a large amount of money.

When asked if the big move in IT was done, Prabhakaran said it still remains a good bet. Valuations have gone up but not in a very expensive zone, he said.
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