There has been no slowdown in Kotak Mahindra Asset Management’s systematic investment plan (SIP) book, Nilesh Shah, MD & CEO, said in an interview with CNBC-TV18.

“We have seen redemptions from institutional investors, HNIs and family offices. Maybe they are doing profit booking because of the sharp run up in the market, maybe they are redeeming money to invest back into their business,” he said.

He said the November SIP numbers were down because of the holidays during the month.

“Hopefully in December it will get averaged,” he said.

According to Shah, investors need to be cautious while betting on stocks that can be a production-linked incentive (PLI) play. “PLI scheme is a fantastic scheme. We believe in electronics, components, contract manufacturing, this PLI scheme can create wonders. However, one will have to be extremely careful in choosing the right company,” he said.

For entire discussion, watch video...

(Edited by : Santosh Nair)

First Published:Dec 11, 2020 11:47 AM IST