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Risk-reward unattractive, not good time to buy: Gautam Chhaochharia

India has been the best-performing market globally thus far in calendar year 2017

Puneet Wadhwa  |  New Delhi 

India has been the best-performing market globally thus far in calendar year 2017. Gautam Chhaochharia, head of India research at UBS Securities, tells Puneet Wadhwa that the current all-time high Nifty valuations can be justified only if we presume double-digit earnings growth into perpetuity. His CY17-end base case scenario target for the Nifty50 index is 9,000. Edited excerpts:   The markets are at an all-time high when economic indicators are at a decadal low. What explains this dichotomy?   Hopes of growth recovery aided by reforms and strong local retail flows explain ...

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First Published: Sun, August 27 2017. 22:22 IST
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