It has been a choppy first half of fiscal 2022-23 (FY23) for the markets. MANISH KUMAR, chief investment officer, ICICI Prudential Life Insurance, tells Puneet Wadhwa in an interview that from a near-term perspective, mid and small-caps valuations in some pockets are much ahead of fundamental performance and could be prone to correction. Edited excerpts:
Are the markets ripe for more fall?
The Indian markets offer better growth prospects as compared to the global peers. The earnings outlook, too, remains resilient, with returns in the mid-teens expected from the Nifty for the next couple of years. However, the Nifty valuations