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Prefer industrial manufacturing firms over banks: PGIM India Mutual Fund

Updated : June 02, 2021 16:24:24 IST

Srinivas Rao Ravuri, CIO of Equities at PGIM India Mutual Fund, believes that a combination of positive outlook on the economy and flows is what is driving markets.

"For the current financial year ending March 2022, the street estimates are about 35 percent earnings growth. May be we will see some downward revision to this but I think overall we will see a very strong corporate earnings for India. So a combination of positive outlook on the economy and flows is what is driving markets the way it is behaving."

He said, he prefers industrial manufacturing companies over banks.

"We are playing the economic recovery more through industrial manufacturing companies than through banks. However we are bullish on a few private sector banks, these banks have demonstrated their ability to deal with the slowdown and are well-positioned to gain as the economy picks up."

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