Investors need to remember that, given the headwinds especially from the global side, the journey, could be punctuated by reversals
PRO Only Highlights
- Quarterly performance largely backed by improved realisations
- Medium-term triggers China plus and protectionist measures for tyre industry
- Valuations not inexpensive; but improved medium-term outlook
- Quarterly performance largely backed by improved realisations
- Medium-term triggers China plus and protectionist measures for tyre industry
- Valuations not inexpensive; but improved medium-term outlook
Highlights Nifty scaling new highs, climbing the wall of worries We revisit the gap between bond and earnings yield to gauge if markets are overvalued Markets have usually bottomed out when earnings yield exceeds bond yield At the top, the gap between the two widens as equities get more expensive Past 16 years’ data at the top shows the average gap between bond and earnings yield at 2.5 percent The current gap is lower, suggesting potential upside Global milieu turning tad better and India looks promising Climbing...