One key themes to look at for is defence, mentioned Anand and Shenoy.
“We began off pondering that the defence order guide can be small and it might largely be industrial explosives and packed explosives,” Shenoy mentioned. “However not solely are they getting orders in hand grenades, rocket ammunition, aerial command centre, one of many new drones they’ve [at the Defence Expo] can really carry hundreds as much as 4 kg.”
“What’s necessary right here is you must have a look at orders, not simply the present order guide however the order execution yr clever, what are the long-term orders like in yr 5 or 6 years,” he mentioned. “There are milestone funds to orders and dealing capital can turn out to be a little bit of a difficulty.”
Shenoy is bullish on one thing he calls ‘maha traits’, issues which have modified India in a approach that we could not have imagined earlier than.
“There’s a main pattern in UPI, which has modified the way in which India transacts. There’s ONDC, which is arising as a really massive pattern. There’s a huge change in logistics worldwide, and in addition in India,” he mentioned. “Inside India, whether or not it’s street transport, rail transport with a devoted freight hall, linked with ONDC, or the logistics provisioning that’s taking place in in varied fronts, I feel India is in for a really, very massive modifications. These are after all the bigger traits over there.”
Shenoy sees the rising reputation of financialisation inside the nation the place individuals are investing extra into monetary property relatively than actual property and gold.
“About 75 or 80% of our shares sit both straddling or notably centered on a few of these themes,” he mentioned. “We’re additionally including Indian consumption… however I am taking part in this for a five- or six-year interval.”
The remaining components of the portfolio, they mentioned, can be shorter time period, centered on fascinating alternatives that could possibly be realised within the subsequent one to 2 years.
Anand mentioned he’s bullish on banking theme as effectively, based mostly on the efficiency up to now.