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Economic Times
02-07-2025
- Business
- Economic Times
ETMarkets Smart Talk: Focus on bottom-up stock picking - financials, defence, pharma, and specialty chemicals look attractive, says Paras Bothra
Welcome to ETMarkets Smart Talk, where we bring you insights straight from the minds of India's top market experts. In this episode, we're joined by Paras Bothra, CIO – AIF at Ashika Investment Manager Pvt Ltd, who shares his perspective on the market's current landscape and what lies ahead in the second half of geopolitical tensions driving short-term volatility and liquidity dynamics shifting due to QIPs and block deals, Paras emphasizes a bottom-up approach to stock highlights sectors such as financials, defence, pharmaceuticals, and specialty chemicals as particularly attractive in the current environment, backed by strong fundamentals and structural crude oil concerns to global interest rate trends, and from sectoral plays to long-term asset allocation strategies — we cover it all in this insightful conversation. Tune in to hear where opportunities lie and how investors can navigate the months ahead with discipline and clarity. Edited Excerpts – ADVERTISEMENT Q) We closed May on a high note but witnessed some volatility in June – is it geopolitical concerns weighing on sentiment?A) Yes, the volatility we are seeing is because of the geopolitical tensions emerging in the middle east and crude spiking up creating jitters in the markets. Q) As we are about to end 1H2025, what are your expectations or assumptions for the rest of the year? A) The rest of the year will see the surge in supply of papers in the primary market and the plethora of QIP and promoter block deals absorbing liquidity and capping market on the other hand there will be buoyancy in the market based on improved fundamentals because of interest rate cuts and ample supply of liquidity, normal monsoon boosting the economy and more specifically consumption. Q) Are there any new or existing themes that are likely to do well in 2H2025? ADVERTISEMENT A) Discretionary consumption is a theme which might gain momentum with lower interest rate and festive heavy second like clean water, convenience services, airlines, govt policy supportive industries, digital advertising, hotels, tours & travels, selective industrial products & services, cooling products, financialization of savings, hospitals etc., seem to be riding on structural tailwinds and opportunities can be tapped in these segments when the market turns volatile and the valuation starts looking compelling. ADVERTISEMENT Q) Geopolitical concerns weighed on crude oil in the past few weeks. How do you see crude oil moving in the near future and what could be the possible impact on earnings and GDP growth?A) Crude oil movement in the near future is more to do with war in the middle-east. But it may be short lived till the time tension between Israel and Iran is long the skirmish continues is a fluid situation to predict. But any sign of restoration of normalcy will see supplies easing and crude oil prices coming down. ADVERTISEMENT Crude oil price spike has an impact on Indian GDP and current account balance, but the dependency has reduced a lot with the passage of time and with the adoption in alternate sources of energy. Q) In terms of valuation comfort – which sectors are on your radar? A) We are looking at companies more from bottoms-up and sectors like financials/NBFCs, capitals goods, pharma, discretionary consumption, defence, tours & travels, hospitality, hospitals, manufacturing/electronics, speciality chemicals are few sectors which look good. ADVERTISEMENT Q) How are FIIs looking at India amid falling interest rates globally?A) FII's will certainly look at India positively given what is happening in the developed market. Increasingly the emerging market is becoming attractive with rising/elevated bond yields in the US and given other macro headwinds in developed markets. Though we are yet to see a surge in India dedicated foreign funds. Q) If someone plans to allocate say Rs 10 lakh (30-40 years) in 2H2025 – should they put fresh money to work? What is the ideal asset allocation? A) If anybody has a 30-40 years horizon of asset allocation, I think rather than timing the market, it is the discipline of uninterrupted SIP which will work wonders in compounding wealth. Equity as an asset class can be seriously looked at, because for such a long horizon, it will be for the younger generation in their twenties and having a risk appetite to digest volatility. Q) How is the rate trajectory looking from the RBI? Do you think the front-loaded 50 bps cut was enough to boost consumption? A) Yes, it seems rate cut is frontloaded and with the boost in liquidity it will support consumption. (Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Economic Times
28-06-2025
- Business
- Economic Times
Discretionary consumption, digital ads, and travel to lead market themes in 2H2025: Paras Bothra
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel In this edition of ETMarkets Smart Talk, Paras Bothra, CIO – AIF at Ashika Investment Manager Pvt Ltd, shares his outlook for the second half of 2025, highlighting key themes and opportunities amid ongoing market to Bothra, discretionary consumption digital advertising , and travel-related segments are well-positioned to outperform, supported by lower interest rates, a festive-heavy season, and structural geopolitical concerns and primary market supply may cap near-term upside, he remains constructive on the long-term India story, urging investors to stay disciplined with SIPs and focus on sectors offering compelling growth and valuation comfort. Edited Excerpts –A) Yes, the volatility we are seeing is because of the geopolitical tensions emerging in the middle east and crude spiking up creating jitters in the markets.A) The rest of the year will see the surge in supply of papers in the primary market and the plethora of QIP and promoter block deals absorbing liquidity and capping market on the other hand there will be buoyancy in the market based on improved fundamentals because of interest rate cuts and ample supply of liquidity, normal monsoon boosting the economy and more specifically consumption.A) Discretionary consumption is a theme which might gain momentum with lower interest rate and festive heavy second like clean water, convenience services, airlines, govt policy supportive industries, digital advertising, hotels, tours & travels, selective industrial products & services, cooling products, financialization of savings, hospitals etc., seem to be riding on structural tailwinds and opportunities can be tapped in these segments when the market turns volatile and the valuation starts looking compelling.A) Crude oil movement in the near future is more to do with war in the middle-east. But it may be short lived till the time tension between Israel and Iran is long the skirmish continues is a fluid situation to predict. But any sign of restoration of normalcy will see supplies easing and crude oil prices coming oil price spike has an impact on Indian GDP and current account balance, but the dependency has reduced a lot with the passage of time and with the adoption in alternate sources of energy.A) We are looking at companies more from bottoms-up and sectors like financials/NBFCs, capitals goods, pharma, discretionary consumption, defence, tours & travels, hospitality, hospitals, manufacturing/electronics, speciality chemicals are few sectors which look good.A) FII's will certainly look at India positively given what is happening in the developed the emerging market is becoming attractive with rising/elevated bond yields in the US and given other macro headwinds in developed markets. Though we are yet to see a surge in India dedicated foreign funds.A) If anybody has a 30-40 years horizon of asset allocation, I think rather than timing the market, it is the discipline of uninterrupted SIP which will work wonders in compounding as an asset class can be seriously looked at, because for such a long horizon, it will be for the younger generation in their twenties and having a risk appetite to digest volatility.A) Yes, it seems rate cut is frontloaded and with the boost in liquidity it will support consumption.(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Time of India
28-06-2025
- Business
- Time of India
Discretionary consumption, digital ads, and travel to lead market themes in 2H2025: Paras Bothra
FII's will certainly look at India positively given what is happening in the developed market. Ashika Investment Manager's CIO, Paras Bothra, anticipates discretionary consumption and travel sectors to thrive in the second half of 2025, fueled by lower interest rates and festive demand. While geopolitical tensions and primary market activity may limit near-term gains, the long-term outlook for India remains positive. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads In this edition of ETMarkets Smart Talk, Paras Bothra, CIO – AIF at Ashika Investment Manager Pvt Ltd, shares his outlook for the second half of 2025, highlighting key themes and opportunities amid ongoing market to Bothra, discretionary consumption digital advertising , and travel-related segments are well-positioned to outperform, supported by lower interest rates, a festive-heavy season, and structural geopolitical concerns and primary market supply may cap near-term upside, he remains constructive on the long-term India story, urging investors to stay disciplined with SIPs and focus on sectors offering compelling growth and valuation comfort. Edited Excerpts –A) Yes, the volatility we are seeing is because of the geopolitical tensions emerging in the middle east and crude spiking up creating jitters in the markets.A) The rest of the year will see the surge in supply of papers in the primary market and the plethora of QIP and promoter block deals absorbing liquidity and capping market on the other hand there will be buoyancy in the market based on improved fundamentals because of interest rate cuts and ample supply of liquidity, normal monsoon boosting the economy and more specifically consumption.A) Discretionary consumption is a theme which might gain momentum with lower interest rate and festive heavy second like clean water, convenience services, airlines, govt policy supportive industries, digital advertising, hotels, tours & travels, selective industrial products & services, cooling products, financialization of savings, hospitals etc., seem to be riding on structural tailwinds and opportunities can be tapped in these segments when the market turns volatile and the valuation starts looking compelling.A) Crude oil movement in the near future is more to do with war in the middle-east. But it may be short lived till the time tension between Israel and Iran is long the skirmish continues is a fluid situation to predict. But any sign of restoration of normalcy will see supplies easing and crude oil prices coming oil price spike has an impact on Indian GDP and current account balance, but the dependency has reduced a lot with the passage of time and with the adoption in alternate sources of energy.A) We are looking at companies more from bottoms-up and sectors like financials/NBFCs, capitals goods, pharma, discretionary consumption, defence, tours & travels, hospitality, hospitals, manufacturing/electronics, speciality chemicals are few sectors which look good.A) FII's will certainly look at India positively given what is happening in the developed the emerging market is becoming attractive with rising/elevated bond yields in the US and given other macro headwinds in developed markets. Though we are yet to see a surge in India dedicated foreign funds.A) If anybody has a 30-40 years horizon of asset allocation, I think rather than timing the market, it is the discipline of uninterrupted SIP which will work wonders in compounding as an asset class can be seriously looked at, because for such a long horizon, it will be for the younger generation in their twenties and having a risk appetite to digest volatility.A) Yes, it seems rate cut is frontloaded and with the boost in liquidity it will support consumption.(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
