“NFOs are a normal feature in the sense that depending upon the way the markets are moving and also depending upon the timing in the sense that when a festival is coming up, those sort of things come up. The fund houses launch NFOs. Since the festival season has started, we will see more and more NFOs coming in.”

“Hi-tech companies should do well, particularly those which have been beaten down quite badly will be the ones to pick up because there is nothing to lose from an investor’s point of view. I would reckon that most of these companies will start doing well in an environment where we see a stable growth outlook.”

“I am okay if tech stocks do not deliver for the next two quarters. Who cares? I do not buy for two quarters, I buy for multiple years. One never makes big money by thinking about six months and one year. In IT services, we have moved from the largecaps to specialised companies which structurally are growing faster.”

"Investors continued to move away from highly valued and overpriced sectors to value-oriented segments of the market. Nifty IT Index is down 28% year-to-date, with sharp cuts in stock prices across large and mid-cap companies. At present, the valuations are comparatively better, but not compelling enough to take a serious interest for substantial investment. Another bout of correction, around 10%, would make the investors gravitate towards this sector once again."

"Attractive valuations, steep moderation in commodities prices, and resilience of the rupee make India an attractive investment opportunity. An aggressive rate hike by the Reserve Bank of India (RBI) is also giving comfort that a large part of the interest rate hike is done with, given the expectation of inflation moderation. All this led to a reversal in FII flows in India."

“We have been very heavy on banking space. We believe that even the midsized banks or the midsized NBFCs will start participating now. In the last quarter, our credit growth was almost at 15% though the deposit growth was slacking at almost 9.8%. But the trajectory looks very promising. I believe the BFSI segment will continue to do really really well. ”

“The majority of our portfolio now is very industry oriented and I would call it the fast moving industrial goods (FMIG). We are not seeing any slowdown. We are seeing strong, robust demand from different segments of the market which is coming from end users directly rather than from the OEMs which supply machines and equipment to the end users.”

“In terms of the outlook going forward, we think the momentum in the second half of FY23 and into FY24, will be on the softer side because of the global headwinds. Nevertheless for FY23, the average real GDP growth is expected to be around 7% or so. Inflation tends to be negative for growth but the pinch in particular is seen in segments where real disposable incomes and savings buffer is less. ”

“If the broader risk appetite indicators continue to remain elevated even for the next month or so, then the rally in the midcaps which we have seen, will get extended towards smallcaps as well. So the background is more constructive as compared to what it was a few months back.”