Midcaps can give decent returns in five years: Harsha Upadhyaya, Kotak Mutual Fund

Indian stocks are fairly valued and earnings could revive in the first quarter. The sharp correction in large-cap stocks has made them more attractive vis-a-vis the midcaps, said Harsha Upadhyaya, chief investment officer ( equities), Kotak Mutual Fund, in an interview with Prashant Mahesh. Edited excerpt:
Nifty has moved up 10% since Budget... Can this rally continue?

Issues like slowdown in China, volatility in global currency markets affected both global and Indian markets in the last couple of months. Added to that, the earnings season did not go well, there was anxiety before to the Budget and speculation of long-term capital gains (LTCG) tax in the Budget, all of which led to the sharp dip in the markets.

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