See two years of 20% plus growth led by financials: Enam’s Chokhani

The Indian market’s earnings multiple could expand further because of low interest rates and earnings surprises, Manish Chokhani, Director of Enam Holdings said in an interview to CNBC-TV18.

“We are already on a 20 multiple on FY22 results so it is actually an all-time high multiple already for the markets and yet because rates are so much lower than they look likely to remain lower for longer, it is possible that you get into a higher multiple zone even as earnings kind of keep surprising and beating so in that sense it does look like the beginning of a longish economy cycle in India and I am very hopeful about it,” he said.

“You will see two years of 20 percent plus compounded growth and largely led by financials because they are going to come off a very low base,” he said.