ETMarkets Smart Talk: 10% of smallcaps & 20% of midcaps are trading above reasonable valuations: Pradeep Gupta

economictimes.indiatimes.com:

small caps and 20% of midcaps are trading above reasonable valuation levels,” says Pradeep Gupta, Co-founder & Vice-chairman, Anand Rathi Group.

In an interview with ETMarkets, Gupta said: “Investors should avoid these overvalued pockets, at least from a short- to medium-term perspective,” Edited excerpts:

Unlock Leadership Excellence with a Range of CXO Courses

Thanks for taking time out. Well, it has been a roller coaster ride for markets, but bulls managed to push the index higher from support levels. What is your take on Budget 2024?
Budget 2024 is decidedly pro-growth, anti-inflationary, and aims to ensure the benefits of high growth reach all sections of the population.

It sustains the momentum for investment by significantly boosting public expenditure and extra-budgetary support for government capital formation, while incentivizing the private sector to accelerate investment.

The reduction in income tax for the middle class and wide-ranging measures to improve employment aim to bolster private consumption. The commitment to fiscal discipline is a strategic move to keep inflation in check.

By reducing the income tax rate for the middle class and increasing capital gains tax on most assets, the budget seeks to ensure all income categories benefit from higher growth.

Has the Budget laid down the foundation for Viksit