Why Nitin Bhasin is betting on bank stocks for FY23

On expectations from the market, he said when returns reach extremes, they can revert to even lower than base rates. “The same is applicable for valuations as after a point of time valuations make a difference! Don’t expect returns of CY20 and CY21 every year,” Bhasin said, adding that sectors which witnessed heightened participation on narrative pretext can form valuation excesses as witnessed in tech stocks, especially categorised as new-age stocks in CY22.