Avoid Ola Electric, L&T a top holding, HDFC AMC well placed: Mayuresh Joshi

• Marketsmith India avoids Ola Electric, prefers established EV players with strong networks.
• Larsen & Toubro (L&T) remains a top holding due to its role in India’s capital expenditure cycle and divestment strategy.
• HDFC AMC is well-placed for growth in wealth management and rising retail investor participation.
• ITC's cigarette business is stable, but concerns exist over capital allocation into new, slow-scaling FMCG businesses.
• IT sector faces structural changes from AI, requiring long-term roadmaps and increased capital expenditure for upskilling and infrastructure.