The brokerage said the estimated Price to Earnings ratio – a popular valuation measure – at 19 times is near its five-year average, while foreign investors are most underweight in 15 years.
FPIs open March with largest daily pullout in 4 months
Foreign investors pulled out a significant $751.4 million from Indian equities on March 2, ending a strong February inflow. This reversal, driven by escalating Middle