S Naren told NDTV Profit Ignite: Diwali Edition on Oct 28, 2026 that investors should study valuations and growth prospects before buying, not follow market trends.
He said large‑cap names have slipped after years of poor performance, yet the real test is whether they can deliver steady growth in the next two to three years.
Naren recounted how in 2007 investors chased infrastructure at any price, in 2015 the focus shifted to pharma, and in 2020 quality stocks dominated the market before the trend began to wane.
He warned that today’s investors are paying premium prices for growth stocks, but growth may disappear—something no one predicted six years ago.
The takeaway is a contrarian stance: investors should reassess sector preferences ahead of Q2 earnings, potentially reshaping portfolios to capture overlooked opportunities.