Pankaj Murarka of Renaissance Investment Managers views Indian equity market as overvalued. They have exited defence exposures due to high earnings expectations. The firm favors digital platforms like Paytm and food delivery services. Murarka remains positive on banking sector, particularly larger banks like HDFC, ICICI, Kotak, and State Bank. He suggests avoiding sectors with valuations ahead of fundamentals.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets