From CDMO to aerospace: How Vikas Khemani finds India’s next big themes

Vikas Khemani's investment firm Carnelian has launched a small-cap mutual fund with a ₹5,000 crore cap. This move marks a shift in focus for Khemani, who is now concentrating on sectors such as manufacturing, financials, and IT. He cautions investors against confusing market capitalisation with valuation, suggesting that market size does not necessarily determine a company's worth.

Why it matters

Vikas Khemani's investment strategy focuses on manufacturing and financials, which could lead to increased investor interest in these sectors. The launch of a small-cap fund may also provide a boost to small-cap stocks.

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