Valuation discomfort not as acute as it was 6 months ago: Prashant Khemka

'Chasing sectors which have reported strongest earnings not the right strategy always,' he says

The recent run-up in the equity market hasn't strained valuations and it does not call for any "extraordinary caution", says Prashant Khemka, the founder of WhiteOak Capital Management. It makes sense to remain invested as timing the market is more luck than science, Khemka told Abhishek Kumar in an interview.

Here are edited excerpts from the interview.

Overseas investors have turned strong buyers of Indian equities after a period of sell-offs. What reversed the trend?

This is due to two factors. Firstly, the appetite towards emerging markets (EMs) has improved compared to last year, led by China. The country has