The global investment bank believes that the current valuations are at 7.2x FY24E P/B, 46.4x P/E. The valuations do not fully price in headwinds such as pressure on new business, said the note.
Indian markets may consolidate on Tuesday following mixed global cues. The Sensex gained over 300 points with Nifty50 closing just below 18600 levels. India VIX
Considering a base case, we can see NIFTY to be around 20,000 levels given that India has positioned itself in the best spot where it
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