According to Nimesh Chandan, CIO of Bajaj Asset Management, India remains an attractive investment destination, with corporate earnings growth remaining resilient despite elevated energy prices, rising global interest rates and geopolitical uncertainty.
As conditions normalise, the market is likely to refocus more on corporate earnings. "Combined with reasonable valuations in several sectors, this supports our expectation of double-digit equity returns over the next year," he said in an interview with Moneycontrol.
Private sector banks remain his highest-conviction sector, supported by improving liquidity conditions, a pick-up in credit growth, favourable interest-rate dynamics and attractive valuations.
Internet platforms, meanwhile, offer an attractive proxy for consumption, given rising penetration levels and their higher growth potential compared with traditional consumer companies, Chandan said.
Have you noticed signs of risk-off sentiment emerging in US AI stocks, particularly following their recent decline after quarterly earnings announcements?