Overweight on oil & gas and pharmaceuticals: Shyamsunder Bhat

Shyamsunder Bhat

Chief Investment Officer | Exide Life Insurance

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In an interview to CNBC-TV18, Shyamsunder Bhat, CIO of Exide Life Insurance discussed fundamentals of the market.

We are significantly overweight on the upstream oil and gas companies, he said.

We needed some solutions to the balance sheet issues of the banks and public sector undertaking (PSU) bank recapitalisation was possibly one big trigger, which has led to a shift in sentiment from the selling mode which the foreign institutional investors (FIIs) had for the past couple of months, he added.

We have been significantly overweight on pharmaceuticals for quite some time. See considerable amount of value in some of the pharma stocks, said Bhat.