We've been exploring themes with secular implications: Prakash Kacholia

The strong first-quarter FY24 earnings are expected to normalise in the coming quarters, with a potential growth rate of 20-22 per cent, said Kacholia

Markets have struggled to sustain higher levels amid various headwinds. PRAKASH KACHOLIA, managing director at Emkay Global Financial Services, shares insights with Puneet Wadhwa in an email interview on the road ahead for Indian equities. From a top-down perspective, particularly in a largecap space, valuations do not seem stretched, he said. Edited excerpts:

Markets are unable to hold on to higher levels. Are you advising your clients to cash out?

The market movement over the past three months has been notably intense. Approximately 50 per cent of the equity returns for the past year have materialised in this relatively short