Overweight on FMCG: Prashanth Y Narayan, ING Investment Management

Prashanth Y Narayan, Vice President & Head-PMS, ING Investment Management (I) Pvt. Ltd., in a chat with ET now, gives his views on FMCG stocks.

ET Now: From the FMCG pack has everything fallen off favour right now or some aggressive growth stories in liquor businesses or even niche business at still of interest to you?

Prashanth Y Narayan: FMCG has always been of interest to us as we have been overweight consumers for a long time and we still continue to be overweight consumers because given the way we are in the market in terms of the risks that are there. There is a premium the market is willing to pay for companies that have earnings consistency and their quality of earnings have been very consistent over long period of time and which has not get affected by a lot of external macro economic factors. To that extent FMCG is one of the sectors that have all these things going for them. So we are overweight FMCG broadly the large cap and to some extent some stocks in midcap sector. We continue to be so until unless we see real need to shift from being a defensive to getting more aggressive and buying up high beta stocks.