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- Kal Somani has taken full ownership of IPL’s Rajasthan Royals, valuing the Jaipur franchise at about $1.6–1.63B. Beating The Times Group, Somani, formerly a minority holder, now leads a consortium backed by Walmart-linked investors and US business families, acquiring 100%.
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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.
“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.
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First Published: May 30 2024 | 6:37 PM IST