Pratik Gupta underweight on FMCG, pharma

Pratik Gupta, Head - Deutsche Equities India is underweight on FMCG and pharma.

Gupta told CNBC-TV18, "From our strategy perspective we are recommending an underweight FMCG and pharmaceuticals. We think the prospects of a PE rerating over there are overdone and also given our relative positive view on the market over a 12 month view, we think it makes more sense to be in some of the higher beta sectors rate sensitive such as industrials, banks, and even cement and again within those you have to be very stock selective, you got to pick the stocks with strong balance sheets and good management track records and so on so FMCG and pharma we don