According to emerging markets guru Mark Mobius, stock prices are now at a reasonable level post-correction and some of the small caps are looking attractive.
The executive chairman of Templeton Asset Management is on a four-day visit to India and plans to meet with Citibank, Barclays and other distributors that sell Templeton India Growth Fund before attending the company's board meeting later in the week in Hyderabad.
Mobius oversees investments of around $50 billion as executive chairman of Templeton Asset Management's Emerging Markets Group.
The fund has investments in company's such as Tata Chemical, Hindalco , Reliance Infra, ING Vysya Bank , Sesa Goa , Maruti, Tata Investment Corporation , among others.
Mobius remains unruffled by reports on corruption and says, "Corruption is rife everywhere, even in China, it will not impact investment decisions."
The recent weakness in market was more due to high interest rates, which caused investors to shift priorities and under the present circumstances, He feels invesors should hold a diversified portfolio. Mobius however, avoids sectors like infrastructure in India, due lack of transparency in the sector.