Markets priced to perfection; don't factor in third Covid wave: Jigar Shah

The markets are priced to perfection and do not take into account a third wave., says Shah

As the economic recovery gathers steam and the frontline indices hit record highs, JIGAR SHAH, chief executive officer, Kimeng Securities India, tells Puneet Wadhwa in an interview that June quarter earnings will be mixed, with the export-oriented, telecom, and consumer staples sectors doing well. He expects auto and cement firms and banks to show a bit of weakness. Edited excerpts:

With the Sensex at a fresh all-time high, can the markets now consolidate and wait for corporate earnings to catch up?

The financial year 2020-21 (FY21) was one of the best years in terms of corporate earnings in a decade. We are