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As TRUST Mutual Fund, the 3-year-old fund house gets set to launch its first equity scheme, CIO Mihir Vora says that he looks at a stock’s growth prospects rather than just its PE. If prospects are good, he doesn’t mind paying a higher price
Mihir Vora says: "The Budget being an interim budget should not have any major shocks, but it will be interesting to see how they balance the imperative to trim the fiscal deficit to as close to 4.5% which is the glide path that we have to show especially given the fact that this is going to be the year in which Indian bonds get introduced to the global bond indices. So, my guess is about 50 basis points reduction in the fiscal deficit will be shown."
“We really have a thriving ecosystem of entrepreneurship. So, any sector, when it comes to the limelight, you suddenly realise that there are hundreds of smaller companies which are already there doing stuff. It is just that now they are coming to a certain size and can go for IPOs.”
“For India, it is a good situation to be in where you have moderating global interest rates, a not so strong dollar, and not a crashing global economy. Inherent strength of domestic consumption should carry us through. Plus, the capex cycle which is just picking up should see us through the next two to three years.”
Vora's key recommendations include sectors such as power, renewables, real estate, and more, given growth potential and resilience amid economic uncertainties.