Prateek Agarwal, Business Head & CIO, ASK Investment Managers said that he is positive on specialty chemicals, pharmaceuticals, IT services, and technology.

“For the past 5-6 months, we have taken some off consumers – that was a large overweight position for us and moved money into technology, IT services, pharmaceuticals, and specialty chemicals. Overall 11-12 percent kind of move from consumer to these spaces were seen,” he said in an interview with CNBC-TV18.

Agarwal said that they have also increased exposure to high-quality lenders.

“Lately we have increased high-quality lenders as well. The fear on NPAs has come down and that helps our view there,” he said.

‘We are also looking at manufacturing companies especially the ones benefiting from the production-linked incentive (PLI) scheme,’ he said.

On markets, Agarwal continues to be positive on the back of the economy coming back on track.

“We continue to be positive given the fact that the economy is coming back. Profits are back as well. So Q2 profits were over 20 percent higher than the same period last year and like-on-like even higher. Q3, the festival season, has gone strong and so we believe that the numbers would be strong. If we see the level of the market versus where it was last year, we are up in-line with the increase in profits and over the interim period we have seen liquidity increase and interest rates decline as well. So chances of valuations sustain where they are high,” he said.

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(Edited by : Anshul)