The sharp rally in the midcap stocks has made valuations expensive, and there is room for a correction, wrote Christopher Wood, global head of equity strategy at Jefferies in his latest note to investors, GREED & fear.
The midcap index, Wood said, now trades at 24.1x 12-month forward earnings compared with 18.7x for the Nifty.
Rising crude oil prices, he believes, are another worry for India, which imports nearly 80 per cent of its annual crude oil requirement.
Depleting water levels, combined with an erratic monsoon and high heat may aggravate the economic situation, which is already grappling with inflation and growth slowdown concerns
By Deven Mistry, Special to the Daily Republic
Throughout the Covid-19 pandemic, emergency rooms across the United States reported a decrease in the number of people seeking care for serious medical problems including heart attacks and strokes. Many people delayed care over concerns about being expo