A correction is on the cards for companies trading at high valuations either due to exponential growth expectations or low-floating stock, said Nilesh Shah , managing director at Kotak Mahindra Asset Management Company . In an interview with Sanam Mirchandani, Shah said markets have priced in lower interest rates, continuity of flows, smooth implementation of the Goods and Services Tax and continuity of government policies post 2019 general elections.
Edited excerpts:
You have held a positive view on the market for a long time, but recently you have turned cautious. Why is it so?
