Willing to go down the quality curve: HDFC MF

Prashant Jain, executive director and chief investment officer of HDFC Mutual Fund, is bullish on the markets and thinks that valuations are relatively attractive. He is underweight on consumer stocks, which according to him are quite expensive. Also, he is cautious on the pharma space due to high valuations. Mr Jain points out that with macros improving, he is willling to go down the quality curve to find stocks which will do extremely well compared with already high-priced top-quality stocks.