HDFC Bank's valuation surged Rs 26,668.23 crore to Rs 15,15,853.85 crore.
Kotak Institutional Equities sees most sectors as overvalued, except for banks and NBFCs, and warns against relying on headline index valuations as an indicator of overall market valuations.
India draws positive FII inflows in 2024, standing out amid outflows from other emerging markets as economic stability and growth potential boost its appeal.
Nomura sees short-term underperformance risks for Indian equities as investor focus shifts to China, but views this as a temporary correction offering a re-entry opportunity due to India’s strong structural growth story.
While some investors say valuations are unjustifiable going by the historic averages, others say it may well be deserved, given the strong fundamentals of the Indian economy
A majority of the new issues in 2022 were either fully priced or overpriced. That did not seem to matter much when the market was booming. But as globally sentiments for equities soured, markets became a great teacher.
The recent euphoria in these stocks does suggest that money is chasing growth and will continue to do so in 2021 but chances of some consolidation cannot be ruled out, suggest experts.
Indian equity markets have been trading at cyclically expensive valuations reflecting a quick road to normalcy. At a recent swing high of 11,800 Nifty traded at a PE of more than 19.2 times of FY22 EPS.
If a stock is trading below its average 5-years PE and PB it means that stock is trading below its fair value, and it is just a matter of time before prices correct themselves and converge back towards its fair value.
Prabhudas Lilladher's joint MD Dilip Bhat is positive on Infy, Wipro and Tech Mahindra. He feels at the moment market valuations are not cheap and there won't be any runaway rally in the market.
Tirthankar Patnaik of Religare Capital Markets, in an interview to CNBC-TV18, estimates that the market to dip before rise and recommends bets on IT, pharmaceutical stocks.