Kotak AMC underweight on infra space

Alroy Lobo, Chief Strategist & Global Head- Equity Asset Management, Kotak AMC is underweight on the infra space.

Lobo told CNBC-TV18, "We should maintain a defensive position in our portfolio. Given the kind of valuation divergence across sectors, you are seeing a number of sectors which have cracked in the last few months. Coming out as good defensive at these prices and therefore, traditionally we would be using consumers as a defensive sector but now we are seeing defensive characteristics also emerging in number of other sectors particularly oil and gas. In that context we still maintain a slightly overweight on the consumer sector and we are clearly seeing value emerging in the oil and gas sector.