 "Stock market, BSE, sensex")
Goldman Sachs and CLSA have become the latest foreign brokerages to join the growing chorus of India’s rich valuations, following a world-beating 30 per cent rally this year. They join Morgan Stanley, Nomura, and at least three others to sound caution on unfavourable risk-reward, given the high price-to-earnings multiple and growing headwinds.
CLSA’s Chief Equity Strategist Alexander Redman in a note titled Indian Equities: On Borrowed Time highlighted 10 reasons to book profits on domestic equities.
“We call time on the 20-month rally in Indian equities. Our concerns range from elevated energy and broader input price pressures applying downward pressure
