Monetary Policy: Views of by Mr. Sumit Chanda, Founder and CEO, JARVIS Invest
Quote and JARVIS’ recommendations by Mr. Sumit Chanda, Founder and CEO, JARVIS Invest
“Jarvis Invest AI propriety tool (‘JARVIS’) comes up with the exit and rebalance calls for a multitude of reasons. These could vary at a stock level or even at the sector level. What we have observed in recent times is an increase in allocation towards sectors like Pharma, Financial Services, IT and Industrial Manufacturing. At the same time, the sector allocation towards Consumer goods and Automobile has reduced.
Globally, we were all fighting more or less the same battle for the past few months. Inflation, slowdown in global demand, the war in Ukraine, high crude prices, etc. Locally, we were under tremendous pressure due to global geo-political tensions, global financial market volatility, Rupee at almost 80 to the dollar, Brent going beyond $120, FIIs taking money out, among other things. While this painted a grim picture for India, we always reiterated the resilience of Indian economy and the confidence in “India” story which was proved right by JARVIS through its recommendations. JARVIS, the AI proprietary tool did recommend staying in cash for a while and it again started deploying funds in the past 2 weeks as it observed reduced volatility and some positive news on the horizon.