"If BJP wins we could see a reasonable correction of 5-7 percent. However, as of now, we are going along with the flow," Samir Arora said.
The money that has come to India in the last 30-45 days could be fast money that usually flows into a market preempting a major event -- Lok Sabha elections in the case of India, according to Samir Arora of Helios Capital. This, he told CNBC-TV18, made him nervous about the market.
"I am a little nervous about it. This looks like money which comes into different markets basically to play specific events and it may go from one market to the other quite fast. Right now, it doesn’t look like the money is here for good," said Samir Arora, founder and fund manager, Helios Capital.
"If BJP wins we could see a reasonable correction of 5-7 percent. However, as of now, we are going along with the flow," Arora said.
Arora said he expects moderate returns post elections and preferred to cut exposure before the outcome of the general elections.
According to him, the three long-term themes in the market are financials, consumer and tech companies. Around 85-90 percent of the growth in the market will be driven by these three spaces, he added.
He is worried about funding of long gestation infrastructure projects and has bought a PSU bank stock recently.Source: CNBC-TV18The Great Diwali Discount!
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