Dipan Mehta, Director, Elixir Equities is not bullish on the unlock theme.

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“There is certainly going to be change of habits, change of plans as far as consumers are concerned and this trade of unlock may play out for some more time, but over the longer term I am not optimistic on these businesses which rely on crowds coming to their premises,” Mehta told CNBC-TV18.

According to Mehta, banks are the best way to play the opening up of the economy.

“Banks have done exceedingly well and fears around the NPAs are receding and the concerns are now around credit growth which has been pretty weak for various reasons within the banking sector and now economy opening up certainly there is more opportunity to increase the lending portfolio and valuations are quite reasonable over there, so the best way to play this unlock theme is through the banks, and there are many choices over there as far as banks are concerned.”

On pharma Mehta said, “If you are underweight and even at this point of time you should look at adding weightage to pharma companies. Numbers from Cipla, and Dr. Reddy's Laboratories were exceptionally good as of Divi's Laboratories and these companies are becoming like a must own in the portfolio and clearly I think over the next 2-3 years or so we could see very good returns coming from the top pharma companies. So I am very positive on pharma and correction are good opportunities to increase exposure but one should maintain a fair balance as far as pharma is concerned.”

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(Edited by : Santosh Nair)