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Spark Capital's Devang Mehta bets on BFSI, consumption; sees metals, IT as tactical plays
Devang Mehta, Deputy Managing Director & CIO-Equity at Spark Capital Private Wealth, says banks and NBFCs are well placed to benefit from improving credit growth, a strengthening capex cycle and rising consumption. He expects BFSI to outperform as private banks recover and NBFCs remain in a sweet spot. Mehta also favours discretionary consumption, including jewellery and premium products, while viewing metals and IT as tactical bets rather than long-term compounders amid global volatility.
Stocks in news: Hero MotoCorp, Canara Bank, Bharti Airtel, Indian Hotels, SBI
Indian markets opened positively, with analysts suggesting a stock-specific strategy amidst consolidation. Hero MotoCorp sees a revival in commuter bike demand, planning capacity expansion. Canara Bank and Indian Bank reported strong credit growth. Bharti Airtel's NBFC arm has begun operations, while Indian Hotels plans significant capital expenditure. SBI launched AI-powered innovations, and BPCL is acquiring a stake in a Brazilian oil venture.
JBM Ecolife raises Rs 900 crore from Motilal Oswal Fund for biz expansion
JBM Ecolife Mobility, JBM Auto's electric mobility arm, secured ₹900 crore from Motilal Oswal Private Credit via debt and equity. This funding will bolster its electric bus expansion, enabling participation in tenders and execution of contracts. The capital infusion is projected to scale the platform to nearly 5,000 buses from its current 2,000.