In an interview to CNBC-TV18, G Chokkalingam, Founder & MD of Equinomics Research & Advisory discussed fundamentals of the market and shared outlook on his top picks.
C Chokkalingam, Founder and MD of Equinomics Research said that their clients were advised to not apply for the IPO and it was stretched in terms of valuation.
The comments came after a Supreme Court-appointed panel said on Friday that India needed to take stronger measures to identify the owners of participatory notes (P-notes), or derivatives that track domestic equity markets.
The combined net income of 100 firms with a market valuation of more than USD100 million dropped 6 percent in the three months ended in December from a year earlier.