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Fear Of NPL Risks Overdone: Aditya Narain

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September 16: Aditya Narain, MD & India Equity Strategist at Citi, explains major changes in the investment portfolio. “We went overweight on IT largely because of their business certainty. On the other hand, we have cut financials to neutral from overweight due to the uncertainty,” he says, but adds that banking may gain on interest rates and expectations in financials. The NPL cycle is an extended one and the market is overly concerned about NPL risks, he adds.