Nilesh Shah, Founder of Envision Capital, expects the worst of the market downturn to be behind India's equity markets, with potential for new highs within 6-12 months. According to reports from CNBC TV18, Shah believes the prolonged consolidation in equities has created a foundation for the next leg of the market move. He cited stronger earnings from large sectors such as banking and information technology, along with a revival in foreign institutional investor (FII) participation, as key drivers for benchmark indices reaching fresh highs.
Shah continues to favour sectors that have outperformed despite broader market consolidation, maintaining positions in digital platforms, defence and aerospace companies as the strongest structural opportunities. As reported by CNBC TV18, he also highlighted opportunities in consumer discretionary businesses that are benefiting from both premiumisation and value-driven demand, supported by domestic consumption trends rather than external economic factors. The fund manager expects stronger earnings momentum on an aggregate basis to be extremely strong over the next few quarters.
Commenting on Meta's $900 million investment in CRED and the appointment of Kunal Shah as global WhatsApp CEO, Shah described the development as positive for India's technology ecosystem but unlikely to materially impact listed fintech firms. According to CNBC TV18, he noted that fintech business models differ significantly from one another, limiting any direct competitive impact on companies such as Paytm or other payment technology players. Shah acknowledged that the upcoming IPOs of the National Stock Exchange (NSE) and NSDL could absorb a portion of market liquidity given their expected size, but believes strong domestic inflows through systematic investment plans (SIPs) and mutual funds should help the market absorb the supply without causing significant disruption.
Apart from traditional growth sectors, Shah said Envision Capital is also tracking opportunities emerging from the growing adoption of GLP-1 medicines. As reported by CNBC TV18, while direct beneficiaries remain attractive, he sees indirect opportunities in nutrition, protein supplements and multivitamin categories. According to Shah, increasing consumer focus on health and wellness is creating demand for products that complement GLP-1 usage, making these segments potential long-term beneficiaries of the broader healthcare trend. The fund managed ₹2,020.69 crore as of May 31, 2026.
