Market Valuations Shifting: JM Financial’s Post-Q1 India Strategy
Valuations stay elevated even after a marginal cooldown — Nifty50 trades at 18.4x ahead PE, with Pharma the priciest large-cap wager at 33.8x and IT re-rating sharply to 17.3x. On earnings, Nifty50 Q1FY27 EPS grew a robust 12.9% YoY, nicely forward of the 4.5% estimate, led by broad-based energy throughout mid and small caps.
Venkatesh Balasubramaniam, MD & Head of Analysis at JM Monetary Institutional Securities, joins us to decode the sector-wise valuation image and share recent inventory calls — HAL and BEL valuations nonetheless look enticing, MTAR Applied sciences will get initiated with a big BUY, and Knowledge Patterns can be a BUY. He explains why banks aren’t a rush-to-buy but, and why the main target ought to keep on home earnings visibility throughout infra, auto and shopper names.
