Reema Tendulkar

While AI-driven coding productivity is a popular theme, Axis Capital cautions that it alone cannot deliver the substantial $510 billion to $1.3 trillion in revenue that AI firms are targeting.

Devina Mehra, Founder, Chairperson and MD of First Global, remains positive on pharmaceuticals, automobiles, capital goods and power-related businesses while cautioning that current AI-related valuations may not deliver corresponding returns. Mehra also expects Indian IT services firms to play a role in enterprise AI adoption despite concerns around employment and spending cycles.

John Stoltzfus, MD and Chief Investment Strategist at Oppenheimer Asset Management remains positive on the long-term artificial intelligence (AI) and technology investment cycle, expects the Fed to stay on hold, and sees emerging markets outperforming developed peers.

Bikash Prasad, Group CFO of UPL highlighted sharp debt reduction, a stronger specialty chemicals pipeline, resilience despite a delayed monsoon, and plans to increase specialty's share of revenue to 45% over the next three years.

David Chao, Global Market Strategist–Asia Pacific at Invesco, believes India's investment case is improving, supported by lower crude oil prices, strengthening earnings expectations and expanding corporate margins. While valuations remain relatively expensive, he expects Indian equities to deliver strong performance in the second half of the year, with financial and banking stocks emerging as key beneficiaries of rising demand for capital.

Anil Gupta, Chairman and Managing Director of KEI Industries, said the company currently generates around ₹400-500 crore in annual revenue from the data centre segment and expects the business to multiply several-fold as large data centre projects announced by corporate groups become operational.

Ashwini Agarwal, Founder & Partner at Demeter Advisors, advised a stock-specific approach within FMCG, stayed constructive on pharmaceutical innovation, cautioned against long-term calls on metals due to commodity uncertainty, and said AI has made him reluctant to invest in IT despite attractive valuations.

PN Vasudevan, MD and CEO of Equitas Small Finance Bank, said the lender has sought shareholder approval for a ₹1,250 crore fundraise, though the proposal is only an enabling provision and not an immediate capital-raising plan. He added that the bank remains confident of achieving its 2030-31 (FY31) growth targets regardless of whether it secures a universal banking licence.

Easing crude prices, moderating inflation risks and a likely revival in corporate earnings could improve investor sentiment and support further gains in Indian equities, according to AlfAccurate Advisors' Rajesh Kothari.

Indian component makers are increasingly positioning themselves within global aerospace supply chains, a shift that could unlock high-margin growth opportunities as aircraft manufacturers expand sourcing from India.