Hold FMCG stocks: IV Subramanium

Hold FMCG stocks, says IV Subramanium, Director of Quantum AMC.

Subramanium told CNBC-TV18, "The way the market is looking at it there are less issues to be worried in the consumer staple or FMCG segment largely because irrespective of the interest rate cycle the consumption in that business continues to happen. So we are still positive on that segment but at the same time valuations are not cheap, they are reasonably pricy, so we would still wait for some more time before we trim our exposure to that segment but at this point we are happy to hold on."
He further added, "The only areas where we are still not comfortable is the engineering space; we still want to buy into engineering companies but we are not finding them very cheap. On the utility side also we don