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Bajaj Allianz Life looks to IT, pharma stocks in 2019

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Reuters  |  MUMBAI 

By Abhirup RoyMUMBAI (Reuters) - India's Bajaj Allianz Life Insurance is looking to raise its exposure to local IT services companies and drugmakers in 2019, drawn by attractive valuations and easing regulatory issues, even as a strengthening rupee threatens to hurt earnings.Strong free cash flows and growth in the main export market in the U.S. bode well for IT firms, while select pharmaceutical companies will benefit from the resolution of regulatory clampdowns and steady drug approvals, Sampath Reddy, chief investment officer at Bajaj Allianz Life told Reuters.The Indian rupee has weakened ...

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First Published: Thu, November 29 2018. 22:20 IST