Dinshaw Irani of Helios Capital is hopeful that war concerns will subside very soon and has a positive view on the auto ancillaries space. He is also optimistic about the chemicals and utility sectors.
Last checked, BSE Sensex was trading 0.80% lower at 77,527 levels, while NSE Nifty50 was trading 0.82% lower at 24,271 levels.
Irani said the first-quarter (Q1FY27) performance has been much better than expected, which he believes is supporting investor sentiment and bringing foreign institutional investor (FII) flows back into Indian equities.
“Q1 has performed much better than expected,” Irani said.
He said FII flows are returning on the back of the strong Q1 performance, adding that the better-than-expected earnings have delayed further FII selling.
“FII flows are returning on strong Q1 performance,” he said. “Strong Q1 has delayed abatement to more FII selling.”
On August 11, FIIs net bought shares worth Rs 705.24 crore, while DIIs net sold shares worth 411.72 crore.
Mid-Cap, Small-Cap Stocks
Irani said the mid-cap and small-cap space is showing stronger growth, although valuations in the segment remain expensive.
“Mid-cap and small-cap space is showing stronger growth,” he said, while noting that “mid-cap stocks are currently very expensive.”
However, Irani said mid-cap stocks remain cheaper than large-cap stocks.
New-Age Companies, NBFCs
Irani said new-age companies are performing very well and added that Helios Capital is shifting its portfolio towards the NBFC space.
“We are shifting our portfolio towards the NBFC space,” Irani said.
On initial public offerings, Irani said the fund is taking a selective approach. “We are being very selective in our IPO picks,” he said.
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