Stock selection holds key as earnings & valuation gaps widen: Tata MF’s Chandraprakash Padiyar

Stock selection will be critical for investors as earnings and valuation gaps widen across large-, mid- and small-cap stocks, according to Chandraprakash Padiyar, senior fund manager at Tata Asset Management. Padiyar said valuations look expensive in some pockets but reasonable in others, making earnings and cash-flow growth key filters in a more volatile global environment. He remains positive on banks and manufacturing, while seeing select auto-ancillary companies as a better way to play the a