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Kotak Institutional Equities says not much value in market except select pockets

Updated : April 22, 2019 11:28 AM IST

There is not much value in the market beyond some select niche pockets such as financials, said Sanjeev Prasad, managing director and co-head, Kotak Institutional Equities
On HDFC, Prasad said the numbers were okay as far as NII growth was concerned but the fee income was on the lower side
He finds Reliance Industries overvalued and said the fair value of the stock is Rs 1,100. However, he said the market seems to be looking at the stock differently.
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