PPFAS holds cash in 'overvalued' mkt
Mint Mumbai|November 27, 2024
Indian equities are overvalued as earnings grow slower than expected and a relentless supply of shares from large initial public offerings and stake sales by promoters soak up liquidity, according to Rajeev Thakkar, chief investment officer at PPFAS Mutual Fund.
Bloomberg
PPFAS holds cash in 'overvalued' mkt

Thakkar, whose flagship flexi cap fund is India's biggest, is holding about 20% of the roughly $10 billion assets in cash. And he is in no hurry to deploy it.

"Valuations are still expensive and even if the market corrects another 10%, you won't be getting many quality names at a reasonable price," Thakkar said in an interview in Mumbai.

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