Demand for Indian equities still robust

ICICI Securities head of investment banking, J Niranjan, talks about why neither high Indian equity capital markets valuations nor competition is keeping him awake at nights.

Indias Sensex peaked at 11,931 on April 7 before moving south, losing almost 6% in the week beginning April 10 and closing at 11,539 on Monday, April 16. There is a feeling in the region that issuers are pricing paper too aggressively, especially as a correction seems due. J Niranjan, head of investment banking at ICICI Securities, explains why he disagrees.

Recent new issues have been difficult to sell, leading to concerns that competition for mandates could be pushing...

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