It's 7th of August which means it is MF-Day at CNBC-TV18. In an interview to CNBC-TV18, Sailesh Raj Bhan, Deputy CIO - Equity Investment at Reliance Mutual Fund shared his readings and outlook on the market.
We have got a long way to go because the whole earnings uptrend is likely in front of us over the next three-four years, hence the positive stance on equity remains, he said.
He remains positively inclined to equities and his bias is towards largecaps over midcaps because of the risk reward equation which exist in favour of largecap companies, he added.
On systematic investment plan (SIP) inflows, he said, there has been a continuous uptrend in SIP inflows over the last one to one-and-a-half years. So there has been a substantial increase over the last 12 months.
Pharmaceutical sector was significantly overpriced a couple of years back. Over the last two years, the market has done well but the pharma sector has significantly underperformed. I think we are now at the end of the cycle of challenges for this sector, said Bhan.
According to him, risk reward equation for pharma is now far better than most pockets or many pockets of the market and hence the opportunity remains there.
We continue to remain optimistic on the India opportunity which surprises by volumes rising and I think it is still very early stages and has decades of growth in front of us, he further mentioned.For full interview, watch accompanying video...