According to Kotak Institutional Equities, robust corporate earnings and positive upgrades are currently at odds with softer macroeconomic data, such as oil-related concerns, inconsistent monsoon rains, and a heavy reliance on public expenditure. While the firm notes that investment and credit expansion provide some stability, economists caution that official growth figures might be painting a rosier picture than the reality on the ground. Consequently, investors are currently valuing individual companies more optimistically than the broader economy.
by shortkt.com✓