Market valuations at current level are not cheap, says Emkay Global MD

The markets have gained ground last week despite the election-related uncertainty. Krishna Kumar Karwa managing director, Emkay Global Financial Services, tells Puneet Wadhwa that a pick-up in the earnings momentum will ensure that anyone investing in the markets from a two-three year perspective will not be disappointed. Edited excerpts:

The Indian benchmarks have underperformed their global peers thus far in the calendar year 2019 (CY19). Can the tide turn in the remaining months?

Tide can definitely turn, if the country witnesses arrival of a stable government at the Centre, a continuity in the socio-economic policies, and resultantly, a continuation in the economic momentum. On the other hand, things may not improve if geopolitics around the country deteriorates dramatically, and the same results