New Delhi, March 3 -- Kenneth Andrade, the ace investor known for his high-conviction calls, looks for businesses early into a business cycle as part of his investment philosophy. The chief investment officer of Old Bridge Capital Asset Management observed that India's market capitalisation to GDP ratio is 130%, which still indicates overvaluation. However, he still sees pockets of opportunity in the market. Andrade shared his market outlook recently during a presentation on his fund's position and where he sees investment opportunities.

Andrade's portfolio heavily bets on the pharmaceutical industry. He says that his fund's portfolio has 17% exposure to pharma sector. Andrade points out that Indian pharma firms account for 55% of all dr...