Market evaluating valuations, earnings prospects: Amit Khurana

In an interview with ET Now, Amit Khurana, Co- Head Equites & Head of Research, Dolat Capital Market Pvt Ltd, shares his view on why the market shrugged off the development on Mines Bill.

ET Now: The Mines Bill got cleared today; any takeaways from the market's perspective on some of these mining names? For NMDC, there has been talks about how the higher royalty outgo will impact the stock; but anything that you think would be key to the markets with the Mining Bill seeing the light of day?

Amit Khurana: I cannot react on the stocks. But from a broader perspective, the clearance of the Bill is an important development. Having said that, no positive reaction by the market towards the development is a confirmation that probably the market is seeing a reality check; it is evaluating valuations and the sustainability of earnings growth from here onwards. In any case, all these policy reforms which we are going to see over the next few weeks, will take their own time to show up at the actual ground level. Therefore, direction-wise, we are perfectly well placed. India is well poised and there will obviously be tailwinds which will start emanating. But, I guess again it will take some more time.