The theme for 2021 is likely to be everything that is digital and cyclical, said Hiren Ved, Director, CEO & CIO of Alchemy Capital Management, on Friday.
Ved is positive on IT stocks and according to him, one should not be in a hurry to book gains in the space.
“We are structurally very positive and bullish on IT stocks and one should not be in a hurry to book gains. A combination of greater payouts, reasonable starting PEs and a structural growth story starting means that the tech story has a lot of legs to go on," Ved said in an interview with CNBC-TV18.
On the midcaps front, Ved said, “There is a definite mean reversion which is likely to happen. The small and midcap index bottomed out in July-August 2020 and we saw the first significant rebound in broad markets in November and December last year and this will be carried forward for a reasonable period of time.”
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