Saralnama
JPMorgan's Rajiv Batra, Head of Asia and Co-Head of Global Emerging Markets Equity Strategy, advises investors to prefer consumption over capital expenditure in current market conditions, citing cautious global investor sentiment focused on growth and policy. Despite stretched valuations, Batra identifies Hindustan Aeronautics Limited (HAL) as a top pick in the defence sector due to increased global defence budgets, potential foreign partnerships, and India's national security focus. He recommends booking profits in pharmaceutical stocks because of US generic drug investigations and underwhelming earnings, noting the sector's prior strong performance. Batra also maintains a positive outlook on financials while monitoring upcoming policy events. His views reflect a structural buy approach for defence stocks over the next 5-10 years amid evolving market dynamics. (Updated 22 Aug 2025, 15:43 IST; source: link)