Markets may consolidate for a year; current large-cap valuations reasonable: Bandhan AMC's Karthik Kumar

Bandhan AMC remains selective across segments as market conditions turn more cautious. The fund house has exposure to banks but is staying away from insurance companies amid regulatory uncertainty and concerns over earnings visibility. Kumar also remains positive on capital-market plays over the longer term, while the AMC continues to selectively participate in IPOs and UPI-related themes.