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Max Healthcare Institute Chairman and Managing Director Abhay Soi said the company is actively but prudently evaluating inorganic growth opportunities.

Right now the fund is about Rs 22,000 crores. The strategy remains the same. The only thing that actually changes in the strategy is as we grow bigger. It is very hard to take meaningful exposure to smaller companies because of the liquidity and the market caps and all that.

PSU stocks might not be a long term holding. It gives us good dividend yield, which grows a little bit but it is not something that we want to hold for life long. There are stocks that we would hold for a very long period but this might not be a sector that we want to hold for a very long period but that is stock specific.

​The 30-share BSE Sensex declined 413 points to settle at 61,933. Weakness in the auto, financial services and healthcare stocks forced Nifty to give up 112 points and settle at 18,287.

The Nifty Realty index closed 0.07 per cent down at 472.1.

In the overseas market, gold and silver were quoting lower at USD 2,014 per ounce and USD 24.04 per ounce, respectively.

Four domestic fund houses have reduced their exposure to ITC, one of the top holdings of many mutual funds, in April, despite the stock hitting all-time highs. Nippon India MF sold a stake worth INR157cr ($21m) in the FMCG conglomerate, while ICICI Pru MF has offloaded stocks worth INR426cr. SBI Mutual Fund and Tata Mutual Fund sold shares worth INR376cr and INR118cr, while only Sundaram Fasteners MF has added a stake worth INR43cr. Overall, mutual funds combined have decreased their holdings in ITC by 6.1 million shares.

ICICI Securities has suggested 19 stock ideas to invest in realty and capex themes, citing a broad-based upcycle in the area as one driver. The brokerage predicted the end of the interest rate hike cycle would trigger further investment and that a recent expenditure push by the Indian government had fuelled real estate investments. It cited data indicating that household investments in real estate had contributed hugely to the post-pandemic economic rebound alongside strong aggregate sales. The report also noted robust real estate absorption, with resilient real estate prices driving absorption, and a trend towards robust real estate demand by households.

Changes in taxation for debt mutual funds have led to a shift in investment strategy for high net worth individuals. Debt funds no longer offer the same high post-tax return and diversification, requiring investors to look for alternative investments to diversify their portfolio risks. Advisors suggest a three-part investment strategy to replace debt funds that includes high quality debt investments, domestic equity exposure, and other uncorrelated assets like high yield debt instruments, hedge funds, and more. It is expected that the third component will generate around 7-9% post-tax basis and new markets will emerge, though investors may have to sacrifice liquidity.

So it looks like the case for being on an extended pause seems to get accentuated after the recent inflation numbers, both domestically as well as globally. So, we believe that coupled with the fact that there is a week on week supply and also one cannot wish away the fact that the IIP data though it is a lag indicator, it is slightly on the softer side, means that markets will sooner than later start discounting rate cuts.