Kivah Advisors’ Mithun Aswath bets on large caps, pharma & IT as market valuations turn attractive

Mithun Aswath, Managing Partner at Kivah Advisors, said that a durable ceasefire in the coming weeks could help markets look past current uncertainties, as valuations based on trailing earnings remain attractive, particularly for large-cap indices. He believes banks like HDFC Bank have corrected sharply and offer strong upside if economic concerns ease. Pharma and diagnostics are emerging as steady, secular plays, while IT stocks are trading at reasonable valuations despite AI concerns. He adds that market direction will depend on earnings growth visibility and global stability.