ITC, United Spirits not be affected by demand destruction: Prashasta Seth, Senior Fund Manager, IIFL Wealth

In an interview with ET NOW, Prashasta Seth, Senior Fund Manager, IIFL Wealth, gives his outlook on markets tomorrow. Excerpts:



ET Now: What is your portfolio strategy? Give me a stock idea.

Prashasta Seth: We have been buying select consumer stocks, an ITC and United Spirits. These are two names where we believe the demand destruction, even if it happens, would not be significant.

Apart from that, we are sticking to quality names in select financials, IT and auto. We have been buying HDFC, HDFC Bank and Bajaj Finance. In tech, we are looking at Tech M. Within the auto space, we like Hero and Bajaj.

In pharma, we continue to buy in Dr Reddy's and Sun Pharma. That is broadly the strategy - buying good quality names, good companies with low debt on their balance sheet and companies which hopefully should not have a negative impact from falling rupee.