5% correction will be healthy; steer clear of aviation & cinema stocks, says Samir Arora of Helios Capital
Samir Arora expects consumer demand to remain tepid but is to remain bullish on the Indian equity market.
June 17, 2021 / 10:44 AM IST
Samir Arora, founder and manager of Singapore-based hedge fund Helios Capital, is not anticipating a 10-15 percent correction in the Indian market but thinks a 5 percent correction will be healthy.
"We have not trimmed any of our positions. Meanwhile, it is a good time to clean up one's portfolio and sell poor quality stocks,” Arora said in an interview to CNBC-TV18.
He expects consumer demand to remain tepid but is bullish on Indian equity market.
“We have hospital companies in our portfolio and weightage in banks has gone up with SBI as our second-largest holding,” Arora said.
They also own ICICI Securities and SBI Card, as these would benefit from consumer under penetration in India, he said.
“We are holding three home finance companies in our portfolio and will not buy aviation or cinema stocks,” Arora said, without naming the firms.
Both aviation and multiplex sectors have been hit hard by restrictions put in place to check the spread of coronavirus.