Jyotivardhan Jaipuria, Head of Research, BofA Merrill Lynch is overweight on auto space.
Jaipuria told CNBC-TV18, "In December we had moved our portfolio a bit more towards rate sensitive. So we are not totally into this but autos are something we are overweight. We are marginally overweight the banks. So there are some of the rates sensitive which we have turned overweight on."
He further added, "At the same time we are still overweight pharma, which is traditionally treated as a defensive, it's also something where earnings growth will be strong irrespective of how the world or India pans out. So we are playing a mix of both defensives and interest rates sensitive at this point."
