Despite soaring Nifty valuations, India’s top 10 market giants have underperformed since Covid. DSP Mutual Fund sees room for mean reversion, with large-caps now trading at more attractive valuations.
The valuations of the Nifty50 may have rebounded from under 16x seen in mid-2022 to above their five-year average of 19.5 times. Yet, the top ten constituents of the benchmark index have lagged the broader rally.
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