Shiv Puri, in an interview with ET Now, said that global markets have consistently operated amidst chaos over the last several years. Despite the ongoing turmoil, equity markets remain resilient when three key conditions are met—free-flowing credit, a strong earnings outlook, and cheap valuations. In India’s case, credit is flowing and earnings are stabilising, but valuations remain elevated, especially outside the largecaps. This puts India at about two-and-a-half out of three on the resilience scale.
By
