Axis MF’s Devalkar prefers financials over IT stocks
In short
Axis Mutual Fund’s Shreyash Devalkar said financial services look attractive and IT still looks weak. He cited valuations, credit growth and asset quality for financials, and said IT is only a trade even after the correction.
This matters for investors watching sector rotation in India. The report says he is also monitoring insurance, but it does not say which stocks or funds he plans to buy.
What the reporting says
Axis Mutual Fund’s Shreyash Devalkar backed financial services and stayed cautious on IT, according to the market summary. He pointed to attractive valuations, improving credit growth and healthy asset quality in financials, while saying IT remains a trade despite the correction because earnings growth is weak. The report also says he is watching insurance for opportunities after recent regulatory developments, but no specific calls were disclosed.
Why it matters
Shreyash Devalkar of Axis Mutual Fund is reported to favor financial services because of attractive valuations, improving credit growth and healthy asset quality. He remains cautious on IT due to weak earnings growth, even after the sector’s correction. The summary also flags insurance as a possible opportunity after regulatory developments, but no specific stocks, funds or timing were given.