What is Jefferies betting on in India? Beat The Street With Mahesh Nandurkar

In a note, Mahesh Nandurkar of Jefferies said India has been among the best performing emerging market YTD/3-month and Price-to-Earnings multiple is close to highs. Jefferies favorite (bond-earnings) yield indicator is still close to historic average implying no excessive market euphoria. He expects that the rise in the yields over the next 6-12 months implies that the Nifty returns maybe capped. Large caps with valuation comfort are Power Grid, NTPC, HDFC, ICICI Prudential, ICICI Bank, Tata Steel, Infosys & ITC. Where are the markets headed from here on? What has been the impact of COVID second wave on equities? Where is value amidst bout of volatility? Watch this interview for more.
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