In an interview with Prashant Mahesh, Navneet Munot, chief investment officer, SBI Mutual Fund, said that given the sharp run-up in mid-cap stocks, from a valuation perspective, there is higher margin of safety in largecaps.
Edited excerpts:
The magnitude of this victory has surprised the markets. The win will give the government renewed confidence to continue with its reforms. We believe India is transforming from a `data poor' to a `data rich' society. The government is aiming to digitise and integrate the services of all government bodies starting with digitisation of land records, integrating tax collection under one `big data' platform and deploying Aadhaar for the last-mile delivery of government services.These measures would help in reducing corruption, enabling system-wide efficiencies, and freeing up huge economic value through improved cost and operational performance. This transformation from a `data poor' to `data rich' nation is happening at an exponential pace. The policy level thrust towards adoption of technology could unleash significant productivity gains and growth in India. There is surely a big move towards digitalisation of finance with banking and financial services witnessing rapid adoption of technology.
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