Emkay's Sonthalia Reveals Top 3 Investment Themes for 2026

• Manish Sonthalia, CIO at Emkay Investment Managers, outlines three key investment themes for 2026: premium discretionary consumption, capital markets, and rate-sensitive sectors.
• Focus on premium consumption in segments like automobiles, jewellery, and real estate, where brand relevance remains strong despite weakening in other consumer areas.
• Capital markets are expected to remain relevant, alongside rate-sensitive sectors such as automobiles, banks, insurance, and real estate.
• Sonthalia sees improving macro conditions, earnings visibility, and reasonable valuations supporting equities, with the rupee's recent weakness potentially "overdone."
• Emkay holds positions in VIP Industries, Shriram Finance, Pine Labs, and Groww, while advising caution on the EMS space due to valuation and currency risks.

Why It Matters: Emkay's Sonthalia bets on premium consumption, capital markets, and rate sensitives for 2026 growth.