Nifty overvalued by 20%, says Kotak Equities, picks Britannia, NTPC for its All-Season portfolio

“As per our ‘Nifty fair value’ model, the index is now close to 20% overvalued. Thus, we do not anticipate a large upside to the index from this point. The most likely outcome for the index in the next 6-9 month period seems to be a time correction,” Kotak said in a note.

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