“Over the next 12 months, we expect Nifty to report low double-digit earnings growth YoY, however, we do not expect PE multiple for Nifty to expand in that time frame. Nifty is still trading at a 10% premium to historical trailing PE multiple average post recent correction. Whereas Nifty companies are still not reporting earnings growth in line with a historical average of 15%,” says Aditya Khemka.
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