Raheja told CNBC-TV18, "We have consciously stayed away from aviation because we don`t believe it`s a great business to invest in. Our view continues to remain negative on Jet Airways and Kingfisher because we believe that this is a business where your costs are fixed and you have absolutely no pricing power. We avoid these businesses absolutely in our portfolio."
He further added, "We are not as negative on the commodity space. I think with US markets kind of showing signs of stability, the economy kind of showing signs of stability and the interest rate cycle almost at its peak and in India coming off. I think commodities are certainly representing value, if you look at each of the stocks that are there out there Sterlite or even for example Hindalco as such, but you know we tend to have a very cautiously kind of a small weightage towards them in the portfolios because we believe volatility is not completely behind us. So while we like this and we would probably start taking small positions in both these stocks that you mentioned, but we would do that in a very gradual and a cautious manner."
