Birla MF upbeat on auto, IT, underweight on oil and gas

Birla Sun Life Mutual Fund is upbeat on the auto, auto ancillaries, IT, consumer durables, construction and infrastructure sectors while being cautious on telecom and underweight on oil and gas, a senior company official said.

“The worst is over and the going ahead should be good.

We feel the auto, IT, consumer durables, construction and infrastructure sectors should put up a good performance,” Birla Sun Life MF’s co-head, Equity Investments, Ajay Argal, told

PTI here.

Auto and consumer durables are doing well and auto ancillaries have also witnessed a good pick-up. Similarly, the IT sector too has done well in the last 3-4 months and “we feel this sector still has some upside left,” Argal said.

Though there was a slowdown earlier in the construction sector, now there were signs of a pick-up and the company was “very positive” about it, he said, adding that “we are bullish on the infrastructure sector over the longterm.”

On telecom, the company would adopt a stockspecific view, Argal said, as there was intense competition in the sector. A healthy penetration-level already exists and hence the company feels it prudent to take a stock-specific view, he said.