Valuations have moved up but they have to be viewed in the context of the overall growth environment. Large-cap share valuations are at a relatively modest 10-15% premium to their historical averages.
While AI algorithms can crunch numbers and provide sophisticated advice, they cannot fully grasp the complex emotions and behaviours that drive market dynamics.
Chirag Setalvad, Head of Equities at HDFC AMC, discusses the positive impact of government spending on infrastructure, the potential for private capex to pick up, and the outlook for the consumption space and manufacturing sector in India. He emphasizes the importance of investing for the long term. The capex story according to him has strong legs and many years to go. Clear tailwinds are visible there.
Chirag Setalvad of HDFC AMC believes the market is in a dangerous zone, with certain segments being expensive but not in a bubble. He urges caution and a conservative approach, emphasizing the importance of asset allocation and a stock-specific strategy. Valuations have moved up, there is a lot of frenzy which is visible in certain pockets of the market, too much retail participation, too much primary market activity and hence there will be a meaningful correction.
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Roshi Jain, Senior Fund Manager – Equities, is part of the new face of HDFC MF. Roshi believes that the medium- to long-term outlook for corporate India is robust. Rather than timing markets, she advises systematic investing.
The general perception is that spreading bets thinly dilutes the returns. It doesnt allow winners enough heft to influence fund returns. Far from getting bogged down, Nippon India Small Cap has put on a stellar performance despite its sharp weight gain. With several over-diversified funds giving good returns, large size may not be a red flag any longer.
The general perception is that spreading bets thinly dilutes the returns. It doesnt allow winners enough heft to influence fund returns. Far from getting bogged down, Nippon India Small Cap has put on a stellar performance despite its sharp weight gain. With several over-diversified funds giving good returns, large size may not be a red flag any longer.
PNC Infratech is reported to have finalised a deal to sell 12 of its road assets to private equity investor KKR. Some of its peers got better price-to-book multiples in similar deals. Yet, most brokerages which have a strong buy rating on the stock see further rerating post-deal announcement. Will smart money continue to chase the company?