Market Guru: Abhay Agarwal, Founder & Fund Manager, Piper Serica On FY26's Smart Portfolio Strategy

In this LIVE edition of Market Guru on Business Today TV, anchor Shailendra Bhatnagar engages in an insightful conversation with Abhay Agarwal, the Founder and Fund Manager of Piper Serica PMS, a seasoned professional with decades of experience in the Indian stock market. In this live interview, Abhay Agarwal shares his perspective on the recent market rally following an eight-month downturn, suggesting that the worst is likely behind us due to improving domestic consumption and a potential return of FII flows. Piper Serica, known for capitalizing on market fear, currently holds a cash position of around 5-10% and has recently increased its overweight positions in sectors like small banks, select NBFCs, and insurance companies such as HDFC Life, ICICI Pru, and ICICI Lombard. The fund is also strongly bullish on the pharma sector, highlighting opportunities in CDMO and generic exports, with stocks like Divis Labs and Dr. Reddy's in their portfolio. Conversely, Piper Serica remains underweight on IT services due to concerns about their adaptation to new technologies, and they are also cautious on renewable energy and automobiles due to sector-specific challenges. Interestingly, Abhay Agarwal views the US-China trade war as a significant opportunity for Indian manufacturing and exports, particularly in EMS, pharmaceuticals, and electronics. Regarding gold, while acknowledging its role in asset allocation, he suggests its major rally might be over, with equities offering better long-term growth potential. Overall, Abhay Agarwal provides a detailed outlook on various sectors, highlighting his fund's strategic positioning and offering valuable insights for navigating the current market landscape.