Nifty Near 9-Month Highs; Q1 Earnings Eyed, Jane Street-SEBI Row Weighs On Sentiment

In this episode of Market Guru on Business Today, Shail speaks with Dinshaw Irani, CEO of Helios Capital, in an insightful conversation that covers market sentiment, sectoral bets, and fund strategy. Amidst a 4000-point rally in the Nifty and SEBI’s crackdown on Jane Street’s quant trading practices, Irani shares his candid take on regulatory vigilance and market triggers ahead of Q1 results. He decodes the rationale behind Helios Flexi Cap Fund’s strong 27% CAGR performance since its launch, explaining the fund's heavy BFSI overweight, pivot towards NBFCs, and selective PSU holdings like SBI. Irani also elaborates on his bullish stance on India’s new-age tech and platform companies such as Zomato and Paytm, while justifying his complete exit from legacy IT names like TCS and Infosys, citing margin pressure and structural disruption from AI. The discussion moves into NBFCs like Bajaj Finance and Sundaram Finance, Helios’ contrarian bet on Adani Ports despite recent headwinds, and why HPCL remains a value play in the oil marketing segment. On defence, Irani explains his preference for BEL over HAL or shipbuilders, and shares his reasons for staying cautious on EMS stocks, despite PLI-backed optimism.