Rupee fall a boon for IT and pharma stocks, says Saurabh Mukherjea

The sharp slide in the rupee will benefit stocks in export-oriented sectors such as information technology (IT) and pharmaceuticals, said Saurabh Mukherjea, founder of Marcellus Investment Managers. In an interview with Samie Modak during the CFA Society India’s third India Wealth Management conference, Mukherjea explains why the markets are set for an interesting nine months. Edited excerpts:

India has outperformed the MSCI Emerging Market (EM) this year by a huge margin. What are the reasons for this?

Emerging markets, such as Brazil, Russia and South Africa, which are commodity exporters, and those running large Budget deficits, such as Turkey, have