Union Budget 2015-16 India Predictions : Up weightage to FMCG, pharma; like TVS, City Union: Ambit

Investors should avoid positioning their portfolio around events like the Budget, because “there is enough money to be made” from stocks and sectors by taking a longer term view, says Saurabh Mukherjea, CEO, Institutional Equities, Ambit Capital.

In an interview to CNBC-TV18, Mukherjea says there will be some degree of optimism in the market ahead of the Union Budget. He recommends investors to increase weightage to defensive sectors like FMCG, pharma and IT.

Mukherjea says he has trimmed exposure to some of the large cap cyclicals because prices have run up quite a bit.
He continues to maintain a bullish view on small private banks, and his top bets include DCB and City Union Bank.

He rates Punjab National Bank as the “highest conviction sell”, and is bullish on TVS Motor, citing it as a natural play on economic recovery.

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