The Indian markets are neither cheap nor too expensive and equity market is still the best place to invest in the next three-four years, says Rajat Jain, CIO, Principal PNB AMC, talking to ET Now.
Edited excerpts:
Corporate earnings seem to be about okay. They have been outstanding but they have not been bad either. On a scale of 1 to 10, they may be a 6 or 7. But on the flip side, the macro situation is deteriorating and taking and taking charge of that is the rising crude price. How is the India story playing out with micros showing an inch or two of improvement but macros definitely not supporting that?
India at the end of the day, has been a strong micro bottom-up story and the numbers corroborate the strength in the bottom up. The volumes from consumer companies -- be it two -wheelers, paint companies or FMCG companies -- have been very strong.
