Atul Mehra, Fund Manager at Motilal Oswal AMC, who manages funds worth $1.73 billion, is bullish in terms of prospects of the capital market ecosystem financialisation and digitisation and so on. He believes the capital market ecosystem is still in the early stages.

Most of the US households have exposure to equity markets. According to him, the digitisation wave has helped the capital markets and they have done well.

In the next ten years, across the board, capital market participation should continue to do well and more and more participants will come, he said.

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HDFC Bank has gone through a major time correction and it has derated in terms of the valuation multiple over the last four-five years, he said.

In the large-cap mutual fund portfolio, Mehra believes that some of the banking names are very well placed, valuations are very attractive and as and when one sees participation from FIIs come back, some of these stocks will start to outperform.

Mehra is very optimistic about the future prospects of the quick commerce space. He believes, as a space, it is absolutely a new channel and a channel of the future. It doesn’t exist anywhere in the world – it is a very Indian phenomenon and it is a channel which is growing exponentially.

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According to him, the prospects for the electronics manufacturing services (EMS) space are very strong.

“The focus is on import reductions and domestic manufacturing. EMS as a space is a direct proxy on the manufacturing theme,” he said.

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