It's time for bottom-up stock picking, says Anand Rathi's Varun Saboo

"The Indian economy and the fundamentals of India Inc are standout, but valuations, on the whole, have become rich," Saboo says

The evolving geopolitical situation in West Asia, rising oil prices, and a packed election calendar in the upcoming months have been some of the challenges faced by Indian markets in the past week. As we enter the July-September quarter earnings season, VARUN SABOO, head of equities at Anand Rathi Shares and Stock Brokers, shares in an email interview with Puneet Wadhwa that earnings across various sectors are expected to align closely with initial projections. Edited excerpts:

The past year has brought significant fluctuations in foreign institutional investor (FII) flows into Indian equities. What is currently causing more concern among these