Bullish on Hero MotoCorp & Mahindra & Mahindra: Prakash Diwan, Altamount Capital Management

In a chat with ET Now, Prakash Diwan, Altamount Capital Management, shares his sector specific preferences.

ET Now: So how are you positioning yourself in the marketplace? What is it that you are betting big on right now?

Prakash Diwan: We continue to buy into sectors that still have not participated in this pullback and by virtue of that some of the auto names which we believe would peak up sometimes towards the festival season. This also being a pre-election year, usually we have seen some of the utility vehicles and two wheelers get driven fairly strongly by consumption. So Hero MotoCorp and Mahindra & Mahindra are the top picks in these respective sectors.

On the pharma side, the midcap pharma is yet to wholeheartedly participate because we have seen a move towards larger defensive ones. So by virtue of that, you have got a Unichem, you have got a Glenmark Pharma, even a Biocon.

Some of the IT stocks as well because as the rupee has improved a bit, people have started writing off IT too soon I guess. So that is the time to nibble into IT as well.