Any spate of volatility is good for any long-term investments, said Harsha Upadhyaya, CIO Equity, Kotak Mutual Fund.
Upadhyaya feels monsoon progress until now has been above-normal despite some softening recently, which augurs well for many rural oriented businesses.
However, Kotak MF remains constructive on markets and corrections are likely to remain short-lived, said CIO Harsha Upadhyaya,
In an interview to CNBC-TV18 Harsha Upadhyaya, CIO-Equities at Kotak Mutual Fund shared his reading and outlook on the market. He also spoke about the new banking regulation ordinance that the government has notified to resolve non-performing asset (NPA) issues.
I believe cement can be one of the best sectors in the next 12 months, said Harsha Upadhyaya, CIO Equity, Kotak MF.
Harsha Upadhyaya of Kotak Mutual Fund is upbeat on the market and asserted that the fund house stayed invested in it despite DII selling. He believes earnings growth have improved and will continue the trend in March as well.
Indian market galloped to fresh record highs earlier this week after BJP managed to clinch a majority in state election results especially Uttar Pradesh. A clean sweep would ensure a smooth transition of policy reforms of the government.
Domestic liquidity is unlikely to dry up any time soon and that could limit market downside, says Harsha Upadhyaya, CIO Equity at Kotak Mutual Fund.
Kotak Mutual Fund is bullish on automobiles, cement and oil & gas companies, the fund‘s Chief Investment Officer-Equity, Harsha Upadhyaya told Moneycontrol.
Harsha Upadhyaya, CIO Equity, Kotak Mutual Fund says its best to avoid any activity in the Tata stocks for now. Investors should reconsider their position in the stocks only if the Tata-Mistry conflict lingers on for very long.
Speaking to CNBC-TV18 Harsha Upadhyaya of Kotak Mutual Fund said that issues in the IT sector won‘t go away soon. â€œOverall the sector is under pressure; growth and pricing are under pressure. We believe structural issues need to be addressed.â€
In an interview with CNBC-TV18, Harsha Upadhyaya of Kotak Mutual Fund said that investors looking to put money into equity should be ready to withstand intermittent volatility.
With good monsoon, focus is now more on domestic oriented businesses than exports, says Harsha Upadhyaya of Kotak Mutual Fund. The fund house has increased its exposure to rural plays in last 3-4 months, he adds.
Watch Investor Camp, Ahmedabad where Harsha Upadhyaya, CIO-Equity at Kotak MF and Prakash Diwan of prakashdiwan.in spoke about markets and discussed if it is the right time to enter the market.
An accelerating earnings momentum, which could translate into profit growth of about 14-17 percent in fiscal year 2017, means fund managers are betting on the domestic sector to provide them portfolio gains.
There will be global hiccups but one should use this volatility to build equity allocation from a long-term perspective, says Harsha Upadhyaya, CIO Equity, Kotak Mutual Fund,
Since the new tax regime will apply only post April 2017, there may not be much immediate implications on the market, says Harsha Upadhyaya, CIO-Equity at Kotal MF. In fact, there is a possibility more foreign funds might rush in in the intermediate, he adds.
In the banking space, Upadhyaya says he prefers retail focussed private banks and well managed NBFCs which are into consumer lending. He is wary of public sector banks as the clean up of books has just begun
Harsha Upadhyaya, CIO-equity at Kotak Mutual Fund advises investors to avoid sectors such as metals, telecom and commodities
Harsha Upadhyaya, CIO-equity at Kotak Mutual Fund, says the second quarter numbers were disappointing, but a gradual recovery in earnings on account of a favourable base is likely
Harsha Upadhyaya, CIO-Equity, Kotak Mutual Fund says market will consolidate at the current level.
Upadhyaya says topline growth was sluggish and will remain so for another quarter. He is hopeful of it picking up from the December quarter onwards.
Birla Mutual Fund's Mahesh Patil said the current weakness in the market was due to a delayed economic recovery. He, however, expected corporate earnings to grow 15-20 percent this year.
Harsha Upadhyaya of Kotak Mutual Fund believes Reserve Bank of India may cut rates once or twice more before the end of this calendar year.
Kotak Mutual Fund launches Kotak Equity Savings Fund. The new fund offer opens today and closes on October 1.