“Valuations of largecaps are about 10% to 15% lower than their 10-year average. On the other hand, if I look at mid and smallcaps, the valuations are at 10% to 15% premium to 10-year average. So, the valuation picture is clearly in favour of largecaps and if FIIs turn out to be buyers, then that is one space which would do relatively better.”
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