Prospects for India good, but expensive valuations limit upside: KIE

"Even after a 7 per cent correction from the top, India is still not cheap," said Kotak Institutional Equities' Pratik Gupta.

Stocks will remain volatile until there is clarity on Russia-Ukraine situation and oil prices, says Pratik Gupta, CEO & Co-Head, Kotak Institutional Equities (KIE). In an interview with Samie Modak, Gupta says markets could enter a phase of consolidation as interest rates go up globally. Edited excerpts:

Markets are yo-yoing too much? Is this the new normal?

Two event risks are out of the way - one was the state election results and second was the Fed rate hike. However, markets will remain volatile till we get clarity on the Russia-Ukraine situation and oil prices. Incidentally, China has been even