Mirae Asset Global overweight on IT, pharma sectors

Rahul Chadha, Head of India Investment / Associate Director, Mirae Asset Global Investments is overweight on IT, pharma sectors.

Chadha told CNBC-TV18, "In our regional funds which we manage we are neutral India. we were underweight last year, we increased that to neutral or marginal overweight but its a very minimal overweight as good as neutral position for India, broad exposure would be through exporters out of India or consumer names in India and within our dedicated India funds we would be overweight IT, consumer names and pharmaceuticals which is where the comfort is."
He further added, "Financials we were overweight because of the high crude oil prices and increased concern on the fiscal deficit. We have slightly pruned our positions over last month or so and outside that we continue to remain negative on oil and gas space and telecom in the country."