Luminous (right) and non-luminous diamonds sit in a laboratory during testing in Moscow, Russia. (Photographer: Andrey Rudakov/Bloomberg)
The indices, at present, look expensive with standard deviations above historical trendlines, but higher growth and “a new normal in valuations” can resolve the issue, according to Prateek Agrawal.It’s important to recognise the changes to the composition of the benchmark index, said the chief investment officer and head of ASK Investment Managers, which manages assets worth Rs 35,000 crore. The stocks and themes that constitute the ...