“Economy is reviving faster than what everyone was expecting. Most institutional investors are underweight financials is led to the rally that we have seen in the last one month,” said Srinivas Rao Ravuri, CIO-Equities at PGIM India Mutual Fund, in an interview with CNBC-TV18.

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He remains positive on IT sector. “Indian companies have demonstrated their ability to gain share and offer a cost competitive solution in this space. Indian companies are gaining share across the world,” he said.

He believes pharmaceutical is a secular growth story and beneficiary of what is being seen in terms of health crisis.

On growth in consumption, he said, “There is a growing share of middle class consumers who are spending more and more and we would like to benefit from this trend.”

He is not bullish on auto space. “Though things are coming back in many ways, the fact is October retail sales for passenger vehicles is lower than the last year October numbers. To that extent we are not bullish on the auto space or high value consumer ticket but low ticket is where we will see continued traction in demand,” he added.

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(Edited by : Bivekananda Biswas)

First Published:Nov 23, 2020 5:07 PM IST