EMS valuations, oil plays and Paytm in focus as Sabharwal stays cautious ahead of Budget

January 30, 2026

Market expert Sandip Sabharwal expressed caution on high-valuation EMS stocks like Dixon Technologies, questioning earnings quality and growth sustainability. He offered a tactical view on oil stocks such as ONGC, citing cheap valuations, and maintained a guarded stance on Paytm due to structural challenges and low-PE business models.

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