Market fairly priced at 5800-5700: Gopinath Natarajan

Gopinath Natarajan, EVP, IIFL PReMIA in an interview with ET Now talks about his market outlook.

Would you use the current strength to your advantage and buy more or are you a contra seller and on every uptick you are actually advising your clients to exit?

If you have seen how we have behaved over the last maybe a month or so, India is possibly still the most priciest in terms of emerging market indices albeit the fact that the premiums have been narrowing over the last couple of weeks when we had the correction.

Despite that if you look fundamentally, we are trading at about 18 times current year earnings and about 15 times FY12. So at about 5800-5700, we are fairly priced and probably from medium term perspective, we would wait for a correction and with a 14% to 15% kind of revenue growth which we are targeting for FY12, any steep correction will only make valuations much more richer and would also provide a decent upside for investors to profit from.