ETMarkets Smart Talk: Valuation looking stretched! Mid & Smallcaps are looking expensive: Deepak Ramaraju
“On the valuation front (P/BV), NIFTY has seen some time-wise correction and is currently trading at around 1x standard deviation,” says Deepak Ramaraju, Senior Fund Manager, Shriram AMC.
In an interview with ETMarkets, Ramaraju said: “Midcaps are the most expensive of the pack, trading at 1.5x of that, and small caps are trading at 1x standard deviation” Edited excerpts:
A proud moment for India when Chandrayaan 3 landed on the moon last week. How will India Inc. benefit from these space missions? The unsung heroes.
It's indeed a proud moment for the entire nation.
We at the Shriram Group congratulate Team ISRO on accomplishing this mission. It's a significant achievement in the space program, and this is just the beginning.
This mission was critical because it provided the nation with a plethora of data in the field of material science, geo-spatial imaging, weather, and more to be explored.
This will also help in setting up an intermittent site on the moon for any future space exploration like Mission Aditya L1, etc.
From an economic point of view, though we may not realize anything immediately, this holds promise for the future.
Indirectly, this has helped the economy in creating jobs, and business for vendors and partners of ISRO, probably leading to the creation of a space and defense SEZ or space ancillary near the launch pad to boost space-oriented exports and strengthen the defense and space sector, thereby fueling GDP growth.
The data collected from space can have immense value in terms of defense, traffic management, geo-tagging, etc., which the government can eventually monetize.
Markets are finding some resistance at higher levels. How are you looking at the markets?
The market will be volatile in the near term
