Vanguard further slashes Ola's valuation to $1.9 billion: Report
The latest markdown positions Ola's fair value at approximately $1.88 billion, which is a 29% decrease from its previous valuation of $2.65 billion as reported in August of the prior year. Key Points
Business TodayWhat does lower interest rates and lower inflation mean for market valuations right now? Nilesh Shah expla
Nilesh Shah explains: Lower interest rates in India are unlikely to benefit India Inc. due to low leverage, but they do help on the valuation side, leading to higher equity market valuation. Concerns remain about India's premium valuation, but if local interest rates decrease, valuations will be re-rated, potentially pushing rating agencies to upgrade India's rating. Key Points
Economic TimesNifty50 now second most expensive index after Nasdaq - here’s why valuations are a worry
India Business News: The Nifty 50's valuation premium has exceeded 40% on only 1.4% of trading days since January 2005. Notably, it is now the second-most expensive index Key Points
Times Of IndiaInvesco raises valuation of IPO-bound Swiggy for second time to $8.3 billion
By the end of this month, Invesco held 28,844 shares in Swiggy, with a total value of $147.6 billion. This equates to a valuation of $8.3 billion for the investment. Key Points
mintIPO-bound Swiggy's valuation raised to $8.3 billion by US-based Invesco: Report
As per the regulatory filings by the US-based AMC, at the end of October, Invesco's 28,844 shares in the food delivery app amounted to $147.6 million. Key Points
Business Today
India gets 2nd unicorn of 2023 as InCred raises ₹500 crore
InCred unicorn: The feat came after it raised $60 million at a valuation of 1.04 billion dollars. Key Points
Hindustan TimesHow should you position yourself in IT? Devang Mehta explans
Investors should monitor the valuation and guidance of IT companies such as TCS, Infosys, and HCL Tech after the result season. Be positive in the IT sector but cautions about potential volatility after the release of results. The importance of management commentary and guidance, particularly regarding the global economic outlook and the performance of the BFSI sector, can't be over-emphasised. Key Points
Economic TimesBaron Capital slashes Swiggy’s valuation yet again to $6.38 billion
Baron Capital had marked down Swiggys valuation by 34% to $7.1 billion as of December 2022, which ET reported on May 16. Key Points
Economic TimesIs outperformance returning to the broader market? Kunj Bansal answers
NISM's Kunj Bansal foresees rural demand growth after elections or government aid. Sectors with attractive valuations lure long-term investors. Short-term traders focus on trading patterns. Recent market movement, crop arrival, smallcaps, midcaps, stock corrections, and equity risks influence investments. Key Points
Economic TimesGlobal asset manager Janus Henderson cuts PharmEasy valuation further to $2.7 billion
As of March 31, 2023, funds managed by Janus Henderson valued their stake in the startup at $2.7 billion – less than half of the $5.6 billion valuation that was ascribed to PharmEasy at the time of its last fundraise in September 2021. Janus Henderson had participated in the funding round. Key Points
Economic Times
ETMarkets Smart Talk: India stands out in terms of growth and policy stability albeit at higher valuation:
If we were to look at consensus earnings estimates for FY24/FY25, this number has been upgraded with each passing quarter depicting the resiliency of earnings. We expect earnings resiliency to continue and be supportive of the markets in general. Banking has been trailed by the broader indices despite strong earnings and trade at reasonable valuation; we expect it to do well. Key Points
Economic TimesVanguard slashes Ola valuation by 29% to below $2 billion
US investment major Vanguard has marked down the fair value of Ola's parent ANI Technologies to $1.88 billion. This is 29% lower than its previous fair value of $2.65 billion. Funds managed by Fidelity reduced the valuation of Meesho and Pine Labs. Invesco increased Swiggy's valuation by 9% to $8.5 billion. Key Points
Economic TimesIn this kind of a market, it is always prudent to keep some amount of cash: Harsha Upadhyaya
“If you speak in terms of sectoral or sub-segment related valuation risks, probably defence, railways, all these areas have seen significant re-rating in recent times. Definitely from a medium to long-term perspective, there is a lot of growth and a lot of money to be made but one cannot extrapolate the kind of moves that we have seen in the past six or nine months.” Key Points
Economic TimesExclusive: Arm signs up big tech firms for IPO at $50 bln-$55 bln valuation -sources
Customers of Arm Holdings Ltd including Apple Inc (AAPL.O), Nvidia Corp (NVDA.O), Alphabet Inc (GOOGL.O) and Advanced Micro Devices Inc (AMD.O) have agreed to invest in the chip designer's initial public offering, according to people familiar with the matter. Key Points
ReutersMidcaps in sweet spot as valuations fall
Midcaps have been on a good run of late, with the BSE MidCap index hitting an all-time high last week. Keeping up its strong run, the index on Friday hit a new lifetime high of 27,294.10, surpassing its previous high earlier in the week. Key Points
Financialexpress
What is really happening with digital credit in India, and other top stories this week
The aftermath of Covid-19 and the subsequent moratorium on loan repayments burnt a massive hole in the loan books of lenders. While the large players managed their books somehow, fintech non-banking financial companies (NBFC) have grappled with ballooning non-performing assets (NPAs). Key Points
Economic TimesUS asset manager Invesco cuts Swiggy’s valuation to $5.5 billion from $8.2 billion
This is the second time Invesco has cut down its valuation in the food delivery firm. We reported last month that Invesco had marked down its investment in food delivery firm Swiggy by 23%. Key Points
Economic TimesStock picks of the week: 4 stocks with consistent score improvement and upside potential of up to 41%
Once again everything is looking green, the way FY 25 has started, it appears that bulls were on short term break due to tight liquidity conditions which tends to appear in the last month of every financial year. While the local liquidity condition might improve, the issue of high valuation is still not over. It is still a time to be cautious in terms of not going overboard with taking exposure to a certain stock, selective about what one is buying. The reason, if the street becomes selective and gets into correction mode once again, it is stocks where there has been improvements in the business operating matrix will be able to weather the storm better. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame. Key Points
Economic TimesStock picks of the week: 4 stocks with consistent score improvement and upside potential of up to 31%
While some of the uncertainties which the global equity markets were facing have come down with indication by US fed that interest rates are not likely to inch upward. The valuation risk still remains, it would better to stay focussed on stocks where analyst score have gone up due to one or the other reasons. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame. Key Points
Economic TimesBears don't give notice before coming! 7 largecap stocks from different sector with right mix of RoE & RoC
Never fight liquidity but never ignore valuation. Given that valuations are not very cheap, any disappointment on any front, be it decline in the foreign flows or any domestic development increases the chances of sharp correction across the market. If one is looking to invest in equity, it would be better to have exposure to largecaps and have more checks and balances while picking the stocks. ET screener powered by Refinitiv’s Stock Report Plus lists stocks with high upside potential over the next 12 months, having an average recommendation rating of “hold” or a “buy” or a strong buy . Key Points
Economic Times
Ecommerce not clicking as it did post pandemic; Namma Yatri daily rides in fast lane
After a pandemic-fuelled surge in online shopping, the industry is seeing moderate growth over the past few months. We have a detailed story on the state of play in the e-commerce market. This and more in todays ETtech Morning Dispatch. Key Points
Economic Timesvaluation of IPO-bound Swiggy raised to $8.3 billion by US-based Invesco
Previously, Invesco, which owns a 2% stake in Swiggy, valued the food tech major at $7.85 billion. Key Points
Hindustan TimesShareChat lays off 200 employees; lost ₹28,300 crore in valuation in 2023
ShareChat's valuation was cut by around $3.4 billion in the span of a year, and the firm has laid off over 800 people in 2023. Key Points
Hindustan TimesAditya Welekar on Novelis IPO, Hindalco and more
Aditya Welekar of Axis Securities discusses the Novelis IPO's potential uses of funds, including capex and acquisitions. Hindalco aims to unlock Novelis' value and raise cash without increasing net debt. The stock's performance and valuation will depend on the IPO's outcome. Welekar says let us hear from the management how they want to use the proceeds and based on that, we will take a call on the stock. Key Points
Economic TimesNvidia is overvalued at this point, says NYU- Stern professor and valuation guru Aswath Damodaran
The professor noted that historically Nvidia has pivoted towards newer markets, like gaming, crypto, artificial intelligence, etc. That makes him optimistic about the company’s future. That is the reason why he has held on to half of his investments. Key Points
Business Today
What bubble? Nvidia profits are rising even more than its stock
International Business News: Nvidia Corp’s blowout earnings report lifted shares and assured the market that artificial intelligence mania is still going strong. It might also make the stock look cheaper. Nvidia has seen its valuation slide since the middle of 2023, even amid a record-breaking rally for the shares, because of its massive earnings growth. Key Points
Times Of IndiaStartup story set for better script in new year after unicorns, funds fall in 2023
Startups with sustainable business models as well as the well-capitalised ones are expected to weather the current turmoil. And the horizon in 2024 is expected to be exciting as well as challenging . Key Points
Economic TimesBusiness and valuation tailwinds to help in outperformance? 5 Indian pharma stocks with upside potential o
Just before the whole market was consumed by the PSU rally, one sector that came into the limelight after many years of underperformance was the Indian pharma companies, yes they are very different in every sense from MNC pharma. During the PSU rally, these pharma stocks have been consolidating, however, in the last few days, some of them have once again started reacting to positive developments in the individual company indicating that there is money on the sideline that is ready to come into these stocks. Sectors like pharma which have seen a very long phase of business remodelling and valuation readjustment need to be brought back on the watch list. It might be too early to call, but if a re-rating gets momentum once again then they might be better candidates for volatile markets. Key Points
Economic TimesThe real problem with Byju's bubble
India News: Discover the real problem with Byju's bubble and the implications for investors. Learn about BlackRock's valuation, corporate governance issues, and the impact on education startups. Find out why venture-backed education startups may be a scam and how technology can provide a better solution. Key Points
Times Of IndiaStock picks of the week: 5 stocks with consistent score improvement and upside scope of up to 44%
The bullish mode of the market, which was already in place on the street as the nifty touched new high, is likely to get a boost with the narrative that wind in the state election is an indication of what is in store for April 2024. There is greater likelihood of bullish sentiment continuing, so be bullish but more than anything else in the long term what matters for a stock is earnings and valuation. So be selective, avoid impulsive investing, and keep reviewing one’s portfolio and stay away from penny stocks especially. It is very likely that some of the penny stocks will fly and be distributed amongst retail investors. We look at stocks which have witnessed a continuous rise in their score in the last one month. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame. Key Points
Economic Times
Prosus cuts Byju's valuation to under $3 billion
India Business News: Netherlands-based technology investor Prosus, which holds about 9.6% stake in Byju's, has marked down the startup's valuation to under $3 billion. Thi Key Points
Times Of IndiaRIL may sell 8-10% more in Rel Retail ventures to fund expansion
Reliance Industries is considering selling an additional 8-10% stake in Reliance Retail Ventures Ltd (RRVL) to raise funds for expansion and debt retirement before its planned IPO. The stake sale would be done in tranches over 12-15 months and is crucial for the success of RRVL's IPO, as the current valuation of $100 billion is considered too large for the market to absorb. The company aims to dilute another 7-10% equity to make the IPO size manageable. The proceeds from the stake sales will be used for store expansion and debt reduction. Key Points
Economic TimesOne-way street! As Nifty defies gravity, equity investors risk turbulence
While the headline valuation may not look very expensive, it could be misleading due to the large contribution of banks to overall profits of Nifty. A sectoral break-up of net profits of Nifty50 index across shows that the contribution of banks has gone up from 21% in 2022 to 27% in 2023. Key Points
Economic TimesVanguard slashes Ola’s valuation by 35% to $4.8 billion
Global investment firm Vanguard Group has slashed cab-hailing startup Ola’s valuation by around 35% to $4.8 billion from its earlier known valuation of $7.4 billion. Key Points
FinancialexpressExclusive: India mulls new valuation norms for angel tax; Amazon-Samara eyes stake sale in More Retail
India is considering using valuation criterion established by the Foreign Exchange Management Act (FEMA) for angel tax on foreign investments, a move that could potentially bring relief to Indian startups. This and more in todays ETtech Morning Dispatch, which is loaded with exclusives you won't find anywhere else. Key Points
Economic Times
Finance Ministry notifies final angel tax rules for investors, valuation methods and guidelines explained
Angel tax (income tax at the rate of 30.6 per cent) will be levied when an unlisted company issue shares to an investor at a price higher than its fair market value. The new rules will be effective from September 25. Key Points
Business TodayByju's financial year 2022 losses cross Rs 8,000 crore, up 80% in year
India Business News: Byju's losses surge to Rs 8,245 crore in FY22. Auditor cites "material uncertainty" over loan repayment. Byju's valuation drops to $1 billion. Byju's Key Points
Times Of IndiaAngel tax: 5 valuation methods added to determine fair price
The Indian government has issued final valuation rules for overseas investments in startups, aimed at reducing disputes related to angel tax and addressing money laundering concerns. The rules include a mechanism for determining the fair market value of investments made through compulsorily convertible preference shares (CCPS). Effective from September 25, the rules offer investors the flexibility to choose from five valuation methods. Key Points
Economic TimesVanguard slashes ride-hailing giant Ola’s valuation by 52%: Report
Vanguard disclosed a 51.6% reduction in the value of its shares in ANI Technologies, Ola's holding firm, as of the end of May 2023. Key Points
Business TodayA $590 billion India stock market rally faces earnings, retail selling tests
The valuation premium for stocks in the South Asian nation has risen sharply against that of emerging market, Asian and global peers. “In the short-term, the market has got stretched, so a 3-5% correction is on the cards,” said Atul Suri, a fund manager at Marathon Trends Advisory Pvt Ltd. Key Points
Economic Times
Election results to impact price performance over next 12-18 months: Nilesh Shah, Kotak AMC
Domestic and global investors, retail investors, and HNIs are buying, and supply has not appeared in the secondary market sale, QIPs, OFS, nor IPOs. The buying has overwhelmed selling, but market regulation works, and selling is inevitable. The Indian market is an oasis in the global desert, with the world tackling inflation and struggling with growth; India has regulated inflation and maintained positive growth rates. Key Points
Economic TimesGood bank or bad bank? Aswath Damodaran decodes valuation model to derive intrinsic value
Valuation master Aswath Damodaran outlined the parameters and methodology for valuing banks, in a blog post which aimed to educate investors on the intrinsic value and worth of banks. Damodaran indicated that for banks, one can only value equity and therefore use price-to-earnings or price-to-book as parameters for valuing banks, with the future free cash flows to equity used as a measure of intrinsic value. Key Points
Economic TimesBaron Capital marks up Swiggy, Pine Labs valuation; almost halves Byju’s value
In its April-June quarterly report, Baron Capital cut the valuation of Byjus to $11.7 billion as of June 30, down 44.6% from $21.2 billion as of March 31. Key Points
Economic TimesThese largecaps have ‘strong buy’ & ‘buy’ recos and upside potential of more than 20%
In the last year, the differential in valuation between, mid and largecap stocks has increased very sharply. This differential is even more striking given the fact it has come even in spaces like private sectors which have been getting premium valuation for decades. If the market remains under the control of bulls there is a probability that over the next few quarters, markets may see a mean reversion. It might happen both ways, midcap witnessing some profit booking and large caps doing relatively well in the corrective phase of the markets. The first indications of that appear to be already in place with some largecap companies from the manufacturing space doing well. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or strong buy . The screener applies different algorithms for all BSE and NSE stocks. Key Points
Economic TimesStock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 35%
At a time when everything on the street appears good and green, there is a case of being selective and cautious. Cautious in terms of not going overboard with taking exposure to a certain stock, selective about what one is buying. The reason, even if it is in a raging bull market, the street never stays in this all good and green mode forever. When the street starts to become selective and gets into correction mode, it is stocks where there has been improvements in the business operating matrix tend to weather the storm better. So as an investor, one needs to look at every sector and company and their operating and valuation matrix separately. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame. Key Points
Economic Times
LIC becomes most valuable PSU firm; surpasses SBI in market valuation ranking
India Business News: Life Insurance Corporation of India (LIC) surpassed State Bank of India (SBI) to become the country's most valued PSU firm by market valuation. Find out more about LIC's achievement and its impact on the market. Key Points
Times Of IndiaStock picks of the week: 3 stocks with consistent score improvement and upside potential of up to 25%
At a time when everything on the street appears good and green, there is a case of being selective. The reason, if it is in a raging bull market, the street never stays in this all good and green mode forever.when the street starts to become selective, it is stocks where there are some improvement in the business operating matrix tend to weather the storm better. So as an investor, one needs to look at every sector and company and their operating and valuation matrix separately. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame. Key Points
Economic TimesThese largecaps have ‘strong buy’ & ‘buy’ recos and upside potential of more than 15%
After a phase of relative under performance, will the year 2024 bring back the large cap into limelight. The valuation differential between, mid and large cap stocks has increased very sharply in the last one year, especially in the last nine months. Will the next few quarters see a mean reversion on this valuation gap as has happened in the past many times. Remember that the large size of the balance sheet has its own advantage, especially in time of correction, which one cannot rule out due to profit booking. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or strong buy . The screener applies different algorithms for all BSE and NSE stocks. Key Points
Economic TimesWith one event risk getting over, 5 largecap stocks with right mix of RoE & RoCE
While one event risk is state election results getting over, there is a chance that in the next few trading sessions will see a bullish move. But as the valuation is surely not in the cheap zone, it would be better that as an investor stay focussed on the business you are owning. Businesses which have a track record of being able to deal with all the swings of economic cycles. It is the large cap companies with strong balance sheets, strong brands which probably the ones which should be looked at in these conditions. Key Points
Economic TimesStock picks of the week: 4 stocks with consistent score improvement and upside potential of up to 26%
After a corrective wave of more than eight weeks, whether it is Sensex or Nifty, the underlying bias has once again turned bullish, specially in midcap space. But one headwind remains that is valuation which is still at a higher level. So, it would be better to be bullish but selectively. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame. Key Points
Economic Times
Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 28%
Soon after the announcement by the US Fed two weeks back, the mood on the Street has once again turned in favor of bulls. Whether it is Sensex or Nifty, the underlying bias has once again turned bullish, specially in midcap space. But one headwind remains -- valuation is still at a higher level. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies there has been a significant improvement in market outlook in the given time frame. Key Points
Economic TimesReliance Retail valuation doubles in 3 years. Time for Mukesh Ambani to announce IPO at Monday's AGM?
QIA has valued Reliance Retail Ventures, the holding company of Reliances organised retail business, at a pre-money equity valuation of Rs 8.3 lakh crore. At an estimated net debt of Rs 33,200 crore in FY25, RRVLs enterprise value stands at Rs 8.6 lakh crore, and equity per share value stands at Rs 1,200, according to Motilal Oswal's calculations. Key Points
Economic TimesDPIIT takes up startups' concerns with Finance Ministry
DPIIT has raised startups' concerns over angel tax and the calculation of their fair market valuation with the finance ministry. This discussion comes amid declining investment for startups, especially after the collapse of California-based Silicon Valley Bank, which was crucial to the startup ecosystem. Key Points
Economic TimesSoftBank-backed Oyo to reduce planned IPO by about two-thirds amid tech headwinds
The company was targeting a valuation of about $9 billion and updated its IPO documents in early 2022, but SoftBank later that year reduced its estimate for Oyo to $2.7 billion. The IPO valuation will be finalized through a book-building process nearer to the listing but it’s set to be far from what the company originally envisaged. Key Points
FinancialexpressHow India’s Education Tech Giant Got Schooled and Lost $20 Billion in Value
Byju’s, once India’s most valuable startup, is shaping up as a cautionary tale. Amid signs of a new global tech bubble emerging, investors would do well to take note. Key Points
mint
Byju’s to raise $200 million through rights issue at a valuation of under $250 million
India Business News: Byju’s is planning to raise $200 million through a rights issue at a valuation of under $250 million. The funds will be used to clear immediate liabilities and meet operational requirements. Key Points
Times Of IndiaByju’s FY22 losses balloon to Rs 8,245 crore
India Business News: Byju's losses for FY22 reached Rs 8,245 crore, a significant increase from the previous year. Revenue from operations grew to Rs 5,014 crore. The audi Key Points
Times Of IndiaGoldman Sachs ups Nifty 2024-end target to 23,500; cites 3 factors supporting premium valuation
Goldman Sachs revised price target for Nifty implies an upside potential of more than 8% for the index from the current levels. In trade on Tuesday, Nifty50 was trading at 21,707, up nearly 1% from the previous close. Key Points
Economic TimesStock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 31%
While it should always be followed as the basic principle of investing, in markets when valuations are high it becomes extremely important for an investor to look at a company and their operating and valuation matrix separately. The reason, when there is a change in the operating matrix, the valuation matrix gets impacted more. The reason to be cautious is that when a correction takes place, and it does, stocks which have seen an improvement due to fundamental reasons tend to perform relatively well as compared to others. So look at stocks where analysts' outlook has improved over the last one month. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame. Key Points
Economic TimesWorld Cup and festivity themes to dominate next 2 quarters; bullish on 4 stocks: Hemang Jani
Market expert Hemang Jani predicts that the upcoming ICC World Cup and festive season will drive consumer demand in the next two quarters, benefiting sectors like QSR, hotels, and aviation. Food prices will be a key monitorable, but short-term spikes have been easily absorbed by the markets. Jani recommends investing in Titan, Indian Hotels, Zomato, and other consumption names like D-Mart. He also suggests considering stocks in the logistics space, such as Blue Dart and VRL Logistics, which are expected to benefit from the growth in consumer demand. Key Points
Economic Times
Titan plan to buy out CaratLane hits valuation hurdle
CaratLane had been in a strategic vendor relationship with Tanishq, Titans jewellery brand, since 2010. Between 2016 and 2019, Titan bought into the company in tranches, spending a cumulative Rs 440-450 crore, primarily via a secondary purchase of shares from Tiger Global, an early stage backer. Titan also made a primary infusion of Rs 99 crore in the company. Key Points
Economic TimesCautious on IT services and consumer staples stocks; see opportunities in 3 sectors: Rana Gupta
“Our base case is that crude oil remains over $90-100. But if you are looking for a more medium term view, we quite like the non-ferrous space because given the transition happening in the global economy towards the renewable and EV space, it is quite positive for copper and aluminium.” Key Points
Economic TimesBubble building in IPO and SME markets, warns Dalal Street’s top multibagger hunter
Siddhartha Bhaiya says: We believe that the capex cycle play could be a long structural play, particularly in India. We are amidst a big infrastructure growth cycle which is not only the need of the hour for our country but is also encouraged by strong policy support. The capital goods sector had been an ignored sector of the last decade wherein there was hardly any capacity addition and a lot of inefficient players went out of business. Key Points
Economic TimesSticky SIP investments likely to drive domestic institutional flows into equities: Union AMC
As far as valuations are concerned, our Fair Value Spectrum indicates that valuation for Nifty 50 is in the “Fair” zone. Within equity, our reading of the situation is that, large caps are relatively attractive than small and midcaps. Then we must consider two aspects while discussing the topic of asset allocation: current allocation and incremental allocation. Key Points
Economic TimesETMarkets Smart Talk: Why Kunal Vora of BNP Paribas India prefers IT sector despite headwinds & financial
With inflationary pressure easing, RBI has already paused the rate hike cycle and the expectations are similar from major global CBs in the upcoming meets. Bond yields have come off from the peak which is positive for equities. Key Points
Economic Times