Many counters weather the storm well, logging up to 21% in returns
"Long-term investors do not need to do much and the only thing they can do is to add on in dip and stay with quality," said Mukesh Kochar, head of wealth at AUM Capital.
"The market may look reasonable in terms of the valuation if it corrects 300-400 points more from here and geo-political risk stabilises although no one can predict the top or bottom in the short term."
Analysts said many stocks that have withstood the recent correction have undergone re-rating of late. For instance, BSE's estimated earnings per share (EPS) experienced an upward revision of nearly 50% over the past three months. During this period, the stock witnessed a 22% surge in value. Likewise, Angel One, Creditaccess Grameen, and Prestige Estates have also witnessed EPS upgrades ranging from 4% to 10% within the same three-month timeframe. "Long-term investors do not need to do much and the only thing they can do is to add on in dip and stay with quality," said Mukesh Kochar, head of wealth at AUM Capital.
"The market may look reasonable in terms of the valuation if it corrects 300-400 points more from here and geo-political risk stabilises although no one can predict the top or bottom in the short term."
