Small cap valuations still expensive: Kotak MF CIO

SOME INTERIM EARNINGS growth over the past has led to an adjustment in valuations of large and midcap companies but they are still higher than their historical averages, according to Kotak MahindraAMC CIO Harsha Upadhyaya.

- ANANYA GROVER

The fund house believes that small cap valuations are quite expensive even after consolidation period. In the past year, the Nifty 100 index is up 6.1%, BSE Midcap 3%, and BSE SmallCap has fallen 1.5%. Upadhyaya said, “We have always stuck to investment discipline, irrespective of the phase market is in, which is about looking for opportunities fora longer-term perspective and bu