Vetri Subramaniam, Head Equity Funds, Religare Mutual Fund is underweight on the financials.
Subramaniam told CNBC-TV18, "As far as the financials are concerned, the valuations had gone up dramatically through the course of last year and we had been worried about the valuations on the fact that net interest margins were at peak levels almost a quarter or two ago. I think the process of normalization of those net interest margins has started, there has obviously been some amount of a valuation pullback but in the context of the valuation re-rating to the higher side that we saw last year, I donDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
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