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In this kind of a market, it is always prudent to keep some amount of cash: Harsha Upadhyaya
“If you speak in terms of sectoral or sub-segment related valuation risks, probably defence, railways, all these areas have seen significant re-rating in recent times. Definitely from a medium to long-term perspective, there is a lot of growth and a lot of money to be made but one cannot extrapolate the kind of moves that we have seen in the past six or nine months.”