Retail participation in markets here to stay: BNP Paribas' Amit Shah

Amit Shah says BNP is getting incrementally selective among small- and mid-cap stocks, and higher impetus is now being given to quality companies as valuations appear rich

AMIT SHAH, head of India equity research at BNP Paribas, in an interview with Puneet Wadhwa, says that BNP is getting incrementally selective among small- and mid-cap stocks, and higher impetus is now being given to quality companies as valuations appear rich. Edited excerpts:
 
How are the markets reading into the developments in Afghanistan? Are they  cognizant of a geopolitical risk over the next few months due to this?
 
We do not see any immediate risk on the Indian markets as a result of the Taliban taking over Afghanistan. In the event there is increased geopolitical risk globally,