Mehra said investors should avoid reacting sharply to global conflicts. “There is no point reacting too much to geopolitics unless it is your country which is part of the conflict,” she said, based on historical market trends.
Also Read | Crude oil seen at $70–80/bbl by May-end; Sunil Singhania flags market reliefOn positioning, she said portfolios have remained largely stable, with exposure to sectors such as pharma, auto and banks. The firm also increased allocation to commodities earlier this year. “We were already underweight US equities… put it in commodities, oil and metals,” she said.
For the full interview, watch the accompanying video
She added that portfolios are reviewed regularly, with a focus on diversification and periodic rebalancing based on evolving conditions.
She remains close to market weight on IT, with a tilt towards midcaps. She believes concerns about the sector’s decline are overstated, noting it has adapted through multiple technology shifts. She added that even with artificial intelligence (AI) adoption, companies will continue to rely on IT services firms, though employment growth in the sector may slow.
Also Read | Lower oil prices would boost India’s economy, support banks and consumer sectors: Nilesh Shah
Mehra flagged risks in the AI investment cycle, citing high capital spending, energy use and water consumption. She said expectations of returns may be unrealistic given the scale of planned investments. She also noted that past technology cycles have seen limited long-term winners, and believes a slowdown in AI spending may not be negative for the broader tech ecosystem.
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