Episode Details

Amid stretched valuations in the Indian equity market — especially in the mid-cap space — how should investors think about opportunities, risks, and portfolio positioning?

In this episode, we speak with Kirti Dalvi, Fund Manager at Mahindra Manulife Mutual Fund, who shares her perspective on:

• Why she remains constructive on India despite elevated valuations.

• Her investment philosophy and bottom-up stock-picking approach.

• How she evaluates high P/E businesses for growth visibility and sustainability.

• Key lessons learned from her mid-cap fund’s recent underperformance.

• Sector outlooks, including financials and industrials.

• Non-negotiables on risk management, position sizing, and sell discipline.

Dalvi also explains how she balances conviction with caution in an expensive market, what triggers a reallocation or exit, and why flexibility and humility are essential in volatile times.

This deep-dive conversation is a must-listen for investors navigating Indian equities, especially those interested in mid-caps, fund management strategy, and lessons from market cycles.