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Best to enter 2024 with low return expectations from markets, says Kotak. Which sectors to avoid?

The Nifty50 index is trading at one standard deviation above long-term average price-to-earnings (P/E) multiple. Stocks like Bajaj Auto, Hero Moto, Asian Paints, UltraTech Cement, Hindustan Unilever, Varun Beverages among many other largecaps are also trading above pre-COVID valuations, pointed out Kotak analysts
India General Sanjeev Prasad Heromoto Corp Reliance Industries Bajaj Auto Kotak Institutional

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