Build a portfolio of equities, fixed income, precious metals: Taher Badshah

'Build portfolio of equities, fixed income, precious metals'

Goods and services tax (GST)-related developments, along with S&P Global Ratings’ upgrade of India and hopes of lower tariffs, have kept equity markets buoyant in recent days. Taher Badshah, chief investment officer at Invesco Mutual Fund, tells Puneet Wadhwa over a telephonic conversation that Indian markets, after material underperformance relative to global markets over the past 12 months, are far from the euphoria seen in 2024. Edited excerpts:

 

Have the markets discounted the worst regarding tariff-related developments?  Tariff developments in India have diverged sharply from market expectations. Given the fluid situation and the complex factors involved, the current tariff