Tech review testing article

testing sub heading

BUDGET
econo
2 min read Last Updated : May 31 2024 | 3:25 PM IST
The Indian stock market continues to be a mix of optimism and euphoria, said analysts at Kotak Institutional Equities, with some parts rightfully reflecting the strength in the economy and its long-term growth prospects, and other parts reflecting extreme euphoria linked to baseless narratives with absolutely no linkage to fundamentals.

“The market continues to be a three-part market with sectors such as financials trading at reasonable valuations; sectors such as consumer, IT services and pharmaceuticals trading at full-to-rich valuations; and sectors such as automobiles, capital goods and public sector undertakings (PSUs) trading at euphoric valuations,” wrote Sanjeev Prasad, co-head, Kotak Institutional Equities (KIE), in a recent note co-authored with Anindya Bhowmik and Sunita Baldawa.

ALSO READ: FIIs turn bearish ahead of June 1 exit poll outcome; index shorts at 87.13% Valuations in most parts of the Indian stock market, these analysts said, are expensive with the extent of overvaluation increasing in inverse order of market capitalization (market-cap), quality and risk. The Indian stock market continues to be a mix of optimism and euphoria, said analysts at Kotak Institutional Equities, with some parts rightfully reflecting the strength in the economy and its long-term growth prospects, and other parts reflecting extreme euphoria linked to baseless narratives with absolutely no linkage to fundamentals. “The market continues to be a three-part market with sectors such as financials trading at reasonable valuations; sectors such as consumer, IT services and pharmaceuticals trading at full-to-rich valuations; and sectors such as automobiles, capital goods and public sector undertakings (PSUs) trading at euphoric valuations,” wrote Sanjeev Prasad, co-head, Kotak Institutional Equities (KIE), in a recent note co-authored with Anindya Bhowmik and Sunita Baldawa. ALSO READ: FIIs turn bearish ahead of June 1 exit poll outcome; index shorts at 87.13% Valuations in most parts of the Indian stock market, these analysts said, are expensive with the extent of overvaluation increasing in inverse order of market capitalization (market-cap), quality and risk.
Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :Dyson

First Published: May 30 2024 | 6:37 PM IST

Next Story