Even as investors bet on a resurgence for medium-sized Indian companies after Prime Minister Narendra Modi’s return to power, one of the country’s top mid-cap fund manager advises caution. “Corporate India is feeling the pressure of slowdown across the board, and we have not steered out of the non-bank finance crisis that began in September," he said. “The overall market volatility will have some bearing on mid-cap stocks as well." Sambre said he used the soft patch for mid-cap stocks to consolidate his fund by reducing the number of holdings to 50 from as high as 70. The fund exited non-bank finance stocks, while adding insurers and consumer-focused firms that are likely to be less impacted from the slowdown, he said.

Source: Mint June 11, 2019 02:48 UTC