ETMarkets Smart Talk: Power utilities, PSUs could see re-rating; Defence looks overheated: Naveen Kulkarni

“Power utilities, PSUs as a sector, in general, have rerating potential and political risks are subsiding. These two sectors will remain the key focus area for us,” says Naveen Kulkarni, Chief Investment Officer, Axis Securities PMS.

In an interview with ETMarkets, Kulkarni said: “Defence as a theme seems to be overheated for us. Stock valuations have soared significantly, and minor misses in execution could lead to de-rating challenges,” Edited excerpts: