Digital and cyclical two big themes in the market now: Hiren Ved

Digital and cyclical two big themes in the market now: Hiren Ved

Our big picture theme is that digital and cyclical are likely to do well, says Hiren Ved, Director, CIO & CEO, Alchemy Capital Management, in this interview with ET Now. Edited Excerpts:Covid has became an inflection point for many corporates to completely rejig their businesses, reduce their cost structures and improve productivity. There was no visibility (of earnings) when Covid hit us for the first time and so corporates had to respond to that very aggressively. They went into survival mode. The phenomenal capability of the top 200 companies to manage margins and business amidst this situation is being reflected in the market now.Markets are forward looking. Earnings have surprised on the upside, despite what we thought in the early phase of Covid. In the second phase of Covid, companies know how to manage the situation. The market is willing to overlook this (second wave). In fact, stocks of companies which are most impacted are actually doing better than companies which are relatively less impacted. So the market is telling us that it is not concerned about what is happening …
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