Max New York Life worries about credit growth in FY13,14

Prashant Sharma, Senior Vice President - Investments and Chief Investment Officer at Max New York Life talks to CNBC-TV18 about his reading of the market in the current environment. He also advices investors where they should park their money right now.

Below is an edited transcript of his interview. Watch the accompanying video. Q: What is the view currently on the market situation? Do you think capital preservation is the better tactical approach?
A: Yes, I would think so. We have been reasonably cautious on the market for the last 18 months odd. Our sense is that valuations look attractive enough at about 13 times forward earnings and for medium to long-term investors the valuations are reasonable for you to get in and hold the market going up from these levels, to grow about 10-15% over the next couple of years.
If you drill down and see on a sectoral or on a stock specific basis, we don