QT will keep lead on excess valuation in equity market: Vinod Karki
“I do not think the market is building in the effects of operating and financial leverage which will come in maybe two-three years down the line. That is where the profit cycle really picks up as we have seen in the past also. The parameter for me will be how the ROE trajectory goes and we are currently at 15%. As it moves along to the 20% range, the peak will start forming.”