Rajat Jain, CIO of Principal BNP AMC on the current market conditions:
- Believes large PSU banks are run as well as any private bank.
- Says Midcap IT stocks have done well. He has cut underweight position substantially.
- Rural consumption is holding well. Expects two-wheeler companies to continue performing well in the future.
- Believes midcap stocks will do better than large-cap stocks over a period of 3 years or more.
- Has reduced exposure to the OMC sector (Oil Marketing Company sector) because he had held them for a while and had observed oil prices rising.