Beyond banking and financials, Ashwini finds healthcare a compelling long-term theme. Rising healthcare costs are driving growth in insurance, hospitals, and diagnostic services. While some stocks in this space are richly valued, others offer more reasonable entry points. He also sees select opportunities in manufacturing — particularly in core engineering companies, even though defence and railways have run up significantly. Among domestic services businesses (outside of finance), there are scattered ideas worth exploring. However, he cautions that valuations across the board are not cheap, making bottom-up stock picking increasingly difficult.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)