Mkt looks expensive vs major regional peers: Nomura

Valuations lack earnings support and face headwinds from expected slowdown in growth momentum in the near-term, says Prabhat Awasthi of Nomura Fin Advisories & Sec India.

January 05, 2011 / 09:02 IST

Here is expert equity call for the day on how the markets are expected to trade:

Prabhat Awasthi, Nomura Fin Advisories & Sec India: Valuations lack earnings support and face headwinds from expected slowdown in growth momentum in the near-term. The market also looks expensive compared to major regional peers. Our top buys include M&M and Pantaloon, as consumption and rural demand plays, and Tata Steel & Cairn for their exposure to global commodity prices. Ambuja Cement & HPCL are our top Reduce calls.

first published: Jan 5, 2011 08:00 am

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