What to avoid for next 2-3 years? Pankaj Murarka answers SECTIONS Last Updated: May 17, 2021, 03:55 PM IST Share Synopsis While consumer discretionaries are likely to do well, steer clear of consumer staples, says the founder of Renaissance Investment Managers. ETMarkets.com NSE Renaissance Investment Managers, says remains very constructive on outlook for earnings over the next five years, Tata Motors is one of the top holdings in your portfolio. What are your thoughts on the global auto space right now as markets are reopening gradually? The advanced economies are significantly ahead of India in terms of vaccination time, schedule and scale. Economies are opening up across the US and Europe and we are seeing a strong resurgence in demand across all consumer segments including passenger cars because customers want to travel more safely and there is a huge pent up demand in the ecosystem.