HDFC Mutual Fund is betting on capital goods, corporate banks, and metal sectors, while they are running an underweight position on fast-moving consumer goods and pharmaceutical sectors, said Srinivas Rao Ravuri, Senior Fund Manager, Equities, HDFC Mutual Fund.
He further said that macroeconomic conditions in India have improved significantly in the last few years, which is likely to support faster profit growth in sectors that were laggards in the last cycle.
High valuations along with muted volume growth in the FMCG sector has prompted the fund house to remain underweight on the FMCG sector, HDFC MF told Moneycontrol in an e-mail interview.
