Don't wait for FIIs: Nippon MF CIO Sailesh Raj Bhan on why market will rise before foreign money returns (opens original article in a new tab)

Nippon India Mutual Fund's Equity CIO advises investors to accumulate stocks now due to discounted valuations from foreign investor selling, with large banks available at 1.5 times price-to-book and earnings growth expected around 7-8% for the year.

• Nippon India Mutual Fund's Equity CIO advises investors to accumulate stocks now due to discounted valuations from foreign investor selling
• Large banks are available at 1.5 times price-to-book, with world-class businesses at sensible prices
• Earnings growth is expected to be around 7-8% for the year, lower than previous expectations
• The market has corrected across all categories, with many stocks falling 30-70% in price
• Valuations have reset, with a significant de-rating from 20-22x P/E to 18x