We own ITC, but not for the FMCG business; not chasing consumer discretionaries either: Dinshaw Irani

“We are more or less comfortable with the way we have built our portfolio. Obviously, there will be these spicy stocks which may add some flavour to the portfolio going forward. I do not think we are very concerned about the hotel space. That has got a long way to go. But in stocks like Vedant Fashion, Westlife and Titan, the valuations are a bit of a stretch.”