Veteran investor and BSE member Ramesh Damani expects a more stable period of gains over the next three to six months, believing the worst phase of geopolitical disruption is now behind markets. He named defence, critical minerals, and infrastructure as key investment themes.
Damani anticipates a transition from the sharp, volatile swings seen over the past few months to a more measured trajectory. He stated, “We can look forward to a period of gains in the next quarter or six months as opposed to the very sharp moves that we experienced in the last three months.”
He noted that the changing nature of global conflict is reshaping investment opportunities, emphasizing the need for “asymmetrical warfare” with low-cost technologies like drones and precision systems. Damani has increased exposure to companies linked to emerging defence technologies, particularly in the private sector.
He also pointed to the growing importance of localizing supply chains, stating that countries need to develop raw materials domestically. Damani remarked that this trend creates opportunities in critical minerals and basic materials such as copper and aluminium.
Additionally, he commented on the market’s focus on foreign institutional investor (FII) flows, suggesting that domestic flows have become increasingly important and should be viewed on par with foreign capital.
