At 25 times forward price multiples, the domestic stock market is trading above 10-year averages, even as the wait for an earnings recovery has just stretched after more disappointments in Q2 earnings than positive surprises.
But one must not look at profit figures in isolation, as they are nothing but accounting entries. What really matters is cash flow of a company, says Sanjay Ramdas Dongre, Executive Vice-President and Senior Fund Manager at UTI Mutual Fund, India’s sixth largest f ..
