“All offshore ETF guys are London-listed… After observing Broadcom’s 8% decline the previous day along with HDFC Bank, I decided enough was enough… While I believe further declines may be limited, I’ve seen semiconductor stocks rise approximately 60-70% in two months. That’s excessive,” Arora explained.
As of the end of March 2026, Arora’s Helios managed around ₹1,350 crore in client portfolios. Its largest offering, the Helios India Rising Portfolio, has achieved a compounded annual growth rate (CAGR) of 16.9% since its inception in 2020, compared to 17.7% returns from its benchmark, the BSE500 TRI. In addition, the firm’s mutual fund division oversees more than ₹10,000 crore in assets for its clients.
Why is Arora skeptical about big tech?
Arora’s perspective sharply contrasts with the growing excitement surrounding forthcoming IPOs from tech leaders such as SpaceX, Anthropic, and OpenAI; these three companies are collectively seeking to raise $200 million, with a combined valuation exceeding $3 trillion.
“Whose lunch are you eating?” Arora challenged in support of his cautious stance. “For instance, Apple’s market capitalization is disproportionately large because it has absorbed the market caps of Sun, Fujitsu, HP, among others. Netflix took market share from traditional TV networks and Disney. No one can grow in isolation; these companies have skyrocketed from zero to 2 trillion. Someone has to lose 2 trillion in market cap,” he elaborated.
So what is he investing in?
“All you need is one trade a year,” Samir Arora stated, emphasizing why investors should concentrate on broader structural trends instead of trying to engage with every market fluctuation.
Arora is currently optimistic about stocks in defense, quick commerce, and other digital platforms, where there’s a noticeable shift in consumer preferences towards new business models, empowering companies to capture market share from traditional, unorganized competitors.
In early April, just after the initial ceasefire was announced in West Asia, Arora disclosed that he increased his holdings in Eternal and HDFC Bank as part of a portfolio rebalancing. Although he remains positive about Eternal, his enthusiasm for banks has waned.
Likewise, power equipment firms, which were previously favored by Helios Capital, have lost their attractiveness for the fund manager, who cited the rapid increase in these stock prices as a reason for the shift in interest.
For the complete discussion, watch the accompanying video
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