Indian valuations are high; bullish on pvt banks & tech space: PPFAS MF’s Rajeev Thakkar [Video]

India’s consumption-oriented space has been taking a breather given that valuations have become very excessive, said market guru Rajeev Thakkar, adding that current valuations do not leave any comfort for stock prices to increase.

Speaking with Udayan Mukherjee, global business editor, Business Today TV, Thakkar said private sector banks have had a very good run, in terms of the numbers they have reported, their balance sheets are clean, credit costs are muted and credit growth is back. “So, broadly in the market, there are pockets which are overvalued. We are staying away from those and, we are trying to find attractive purchases in the undervalued space,” said Thakkar, CIO & Director, PPFAS Asset.

Elaborating on his approach towards the banking, financial services, and insurance (BFSI) space, Thakkar said he is quite positive about the space. The focus is on companies that are relatively more asset-light, where there’s not much of …