Rahul Chadha of Mirae Asset Global Investments told CNBC-TV18, "In our India funds, post the correction one saw in early April, we added to our funds exposure. Our view was that somewhere around June we should see this inflation falling because clearly last 2-3 quarters showed very weak corporate sales growth. So our financial exposure is about 35 percent of the fund which is probably 4-5 percent more than the benchmark exposure."
He further added, "Outside that industrials would be a mild overweight primarily coming through cement companies and we would still be overweight on pharmaceutical names, which we have liked for sometime and which have given good results and shown good price performance."
"We continue to like consumer discretionary because globally we believe that this is a good situation wherein raw material prices are going down, commodities remain soft and these companies get good pricing power. Particularly in India as we see rate cuts working their way through the economy, we should see demand revival for some of these auto companies, particularly the car companies. So we remain positive on the consumer discretionary names. Our underweights would be essential oil & gas, commodities and metal space," Chadha said.
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