Focus on private sector banks and few IT Sector companies: Deepesh Pandey

Deepesh Pandey, Co-Head, Investments, IIFL Capital in an interview with ET Now gives his sectoral views.

Where do you personally feel comfortable putting what IIFL pays you in salary?

Purely in terms of investments, you have to be very stock specific. The sector specific approach is over. We have seen mix trends in the latest quarterly results. We have seen mix results from financials and auto sector.

So these 2 sectors were looking good in terms of outlook but it has got to be very very stock specific now. I would still own few stocks in financials, mostly private sector banks and few government owned banks where restructured assets and non-performing assets are less.

So focus on private sector banks, few IT services companies because clearly IT services sector especially top few companies have seen very strong revenue growth. I would also look at few engineering companies and possibly some midcaps. I would not give a very sector specific general outlook but it has to be more selective, more stock specific. So in terms of sectors, I would focus on these sectors and few midcap names.