The bulls are roaring on Dalal Street, with the BSE Sensex claiming the 61K mark this week in the midst of the earnings season. Investors are jubilant as recent developments such as upping of India’s outlook by a rating agency, lowering of inflation projection for FY22 and hopes of strong demand in the ongoing festive season are all sending out strong signals of recovery.
But with the indices now trading at a 15-30 per cent premium over their historical averages on various valuation parameters, investors are a worried lot.
We caught up with Harendra Kumar, Managing Director at Elara Securities, to figure out where is the money in the market.
Welcome to the show, sir.
1. The ongoing earning season has no or low base distortion. What are your broader expectations for India Inc?
2. What are the queries that you are getting from your institutional clients these days? What is it that you are advising them?
3. Many supposedly value buys are seeing strong investor interest these days. Where is that you are finding value, if at all?
4. RBI has cut inflation estimates for FY22 but do you think rising oil prices pose a threat?
5. What is your view on global liquidity? Can central banks ignore inflation or can we see an earlier than expected reversal in policy stance?
6. Banks and metals are expected to lead the earnings growth this quarter. Do you see valuations on bank and metals counter sustaining?
Thank you Mr Kumar. That’s all in this week’s Special podcast. Do keep checking this space for more such interesting content and take time out to follow our market podcasts twice every day. Stay safe and Happy Weekend!
