Nomura expects Indian markets to trade in the range of 20-22x one-year forward earnings, assuming risk premia remain low.
Among the Nifty 500 constituents, Tejas Networks (down 56 per cent), Praj Industries (down 54 per cent), and Vedant Fashions (down 52 per cent) were among the worst hit
The fall in the company's share price came on the back, after the company reported its Q1 results, which came below street expectations