Indian Stocks Expensive But Global Portfolios Must Have It, Says Aswath Damodaran

Aswath Damodaran, who has written several books on equity valuation, as well as on corporate finance and investments, said that even as he believed Indian equities were overvalued, "it would continue to remain hot for sometime". Global portfolio managers fear that "if you are not in the Indian market, you will be left behind," he said. "Like AI. You need to have Nvidia if you are a portfolio manager. They played the China game and now they look at India."