Maheshwari’s overarching message was simple: caution over action. “The best thing is to avoid it for the time being. The runup has been pretty strong,” he said, adding that despite buying equities when the Nifty slipped below 23,000, he prefers to remain on the sidelines now. “It is too early to actually do anything… Just wait it out.”
On sectors he accumulated during the recent dip, Maheshwari highlighted a consistent leaning toward structural themes. “Power is a well-known theme across the market… power and solar has been two sectors which I have been positive about and have accumulated.” Alongside this, he continues to favour metals and banking, sectors he believes still enjoy strong fundamentals and macro visibility.
One space he isn’t touching is IT. Despite steep corrections, he sees no clarity on the earnings bottom. “I would tend to avoid it because even this quarter there has been no commentary which says that we are close to the bottom… it is best to avoid for the moment.” For existing IT investors, his advice is unequivocal: “I would tend to actually get out of this.”
Maheshwari is equally cautious on the auto sector, citing the potential ripple effects of weakness in technology-led employment. “I for the moment would avoid autos… the biggest fallout is going to come in autos.”
On Reliance Industries, he acknowledged its history of subdued stock performance while still flagging meaningful catalysts. “Reliance has been attractive for a long period of time. Unfortunately, it does not perform,” he noted. Yet, at current levels, he sees merit in accumulating. “I do agree at Rs 1300, 1325 Reliance is a buy.”Consumption stocks, particularly FMCG names, may offer tactical opportunities, he added. “It could be a good trading bet… there has been a sector rotation… there is a good trading play available in the FMCG side.”(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
