Avoid metal, real estate space: Dipan Mehta

Dipan Mehta, Member at BSE & NSE told CNBC-TV18, "PSU banks, metals, real-estate and construction companies by and large are the businesses which have underperformed for very good reasons. We are completing avoiding to the extent that we have stopped tracking them per se. The focus is more on asset light business model where there is visibility on rising Indian consumer demand. So these are the kind of businesses be it pharma, IT, FMCG and consumer oriented that is where the the focus is and there are enough stocks and ideas which will give good returns at the same time provide diversification as far as the portfolio is concerned."

"There is no real necessity for investors to go into stocks which have been beaten down just because they are cheap. So it is best to avoid the metals and the real estate companies, to an extent PSU banks. There is enormous choice elsewhere and no doubt those stocks may appear optically expensive but they will continue to deliver higher returns," he said.