The banking sector, including both banks and non-banking financial companies (NBFCs), sees robust growth, while there have been strong order wins in the engineering research and development (ER&D) space, Saurabh Mukherjea of Marcellus Investment Managers said.
Speaking to CNBC-TV18, Mukherjea shared his insights on various sectors. He mentioned that companies involved in the capital expenditure (capex) cycle, such as L&T, Siemens, and Cummins, reported strong order books.
However, weakness is seen in discretionary consumption sectors, including TTK, Jubilant FoodWorks, and Page Industries.
Mukherjea highlighted that HDFC Bank has consistently grown its loan book at 22-23 percent over 25 years, but the stock's compounding rate has been lower compared to the loan growth rate.
Marcellus Investment Managers has doubled its position in Divis Labs, which now constitutes approximately 7-8 percent of its portfolio. Divis Labs is a leading manufacturer of active pharmaceutical ingredients (APIs).
Mukherjea also noted that ICICI Lombard shows good capital allocation and remains a market leader in motor insurance. Additionally, in the life insurance space, LIC has been consistently losing market share.
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