Mutual fund ownership of Adani group stocks is not very high: Equirus

Primary markets will take few months to recover, says Ashutosh Tiwari of Equirus. Investors, he said, are now only interested in businesses which have better historical growth and cash flow profile.

It has been a choppy start to 2023 for the markets. ASHUTOSH TIWARI, managing director – research at Equirus, tells Puneet Wadhwa in an interview that global liquidity is likely to remain tight going ahead, which combined with recession fears, might keep the market volatile in the near-term. Edited excerpts:

What's your outlook for the Indian markets for the next few months?

Over the last 17 months, Indian markets have witnessed healthy consolidation and Nifty’s forward multiples have also come down. While still higher than historical average, it’s now close to five-year average. India is better placed in terms of