The valuation of consumption stocks not attractive at this point, said Raunak Onkar, PPFAS Mutual Fund.

Speaking to CNBC-TV18, Onkar said that valuation has to be attractive for us to invest in consumption stocks.

"If you look at our portfolio, we have megacaps, largecaps and small amount of exposure to midcaps. We are more or less oriented towards this portfolio for the past year," Onkar added.

Talking about pharmaceutical, he said the sector is a very difficult to predict right now.

Onkar further added that larger companies, which have decent management and know how to sell in international, developed and domestic markets, they have a decent balance sheet with them and can take advantage of new products coming in the markets for sale or even invest more in research and development.

Watch Video Here