‘Cautious’ Indian Stocks Remain Overvalued Despite Steep Correction, Says Kotak

The steep correction in the Indian market that took the benchmark indices to the so-called 'correction' zone remains cautious, given full to-frothy valuations in most parts of the market, according to Kotak Securities. The reward-risk balance for the Indian market is "quite poor", despite the over 10% fall since its life high in September last year, the brokerage said. The reaction of "euphoric retail investors, the bedrock of the ma...