Mumbai: The recent underperformance of Indian software stocks, once considered a bellwether of the overall market, is a glaring buy signal for Bajaj Allianz Life Insurance Co. The Bajaj Allianz ULIP Equity Growth Fund, the largest managed by Reddy, has returned 19% so far in 2017. Above-average valuations for the broader Indian market isn’t deterring Bajaj Allianz’s Reddy from adding to his holdings. Reddy forecasts earnings at NSE Nifty 50 companies to rise as much as 18% in the year ending March 2018. In addition to software, Reddy is bullish on private banks, other financial services and metal companies.

Source: Mint July 12, 2017 03:00 UTC