Expect low single-digit return over 12 months: Mahesh Nandurkar, Jefferies

Foreign investors are willing to look through the near-term weakness in the economy, says Nandurkar

As the markets prepare for India Inc to unveil its June 2021 quarter performance over the next few weeks, MAHESH NANDURKAR, managing director at Jefferies, tells Puneet Wadhwa in an interview that helped by a low base, corporate earnings growth this year should be strong -- about 30 per cent for the Nifty -- but that’s already factored in by the markets. Edited excerpts:

Do you think there is a bubble building up across most asset classes?

Bubble is a strong word. I don’t think there’s a bubble. The equity market price-to-earnings (PE) multiple has gone up quite a lot