ICICI Securities has increased its allocation to the industrial sector, according to Piyush Garg, Chief Investment Officer. He expects the manufacturing sector to benefit from higher government expenditure, private capex, and housing revival. After a year of consolidation, Indian markets have rallied, making them more attractive to foreign investors. Garg sees three bottom-up opportunities; buoyant government spending into the election year, the industrial sector, and the auto sector. The Ace Equity Portfolio follows a Value-to-Growth approach, striving for attractively valued stocks with growth opportunities. The key to strong investing, Garg states, is diversification of investments. With volatility in the global market, Garg suggests staggering investments to avoid tail events. For FY24, he predicts banks, capital goods, power, chemicals, and telecom will be top sectoral themes.
Fund Manager Piyush Garg Allocates More to Industrials Amidst Strong Manufacturing Trends
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