Don't see near-term catalyst for metal stocks to perform: IV Subramaniam

In a chat with ET Now, IV Subramaniam, Director, Quantum Asset Management Company Private Limited, shares his views on the metal and Pharma pack. Excerpts:

ET Now: Do you like anything out of the metals space?

IV Subramaniam: We like it. However, the catalyst for many of these metal companies looks quite far away. The prices has adjusted considering the global slowdown and therefore it looks attractive.

We do not see any near term catalyst for these stocks to perform very strongly. However, given the valuations, we like this sector.

ET Now: Yor call on Pharma space?

IV Subramaniam: We have consciously avoided this space, it is just a matter of valuations.

We think it is expensive and therefore we have not bought into any of these stocks.