Kotak Institutional Equities has put out a note on Indian markets. Sanjeev Prasad of Kotak Equities has written that the risk-reward is not favourable to Indian markets for a few reasons. One, the rise in global as well as domestic yield that is not positive for Indian equity. Rising crude prices are also not good for the Indian economy and for Indian markets and thirdly, the increased geopolitical risk is clearly a negative for overall equity markets and for the Indian markets as well.

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The only positive is, despite all these negatives, the earnings are quite strong, and that is balancing out well to some extent--some of the external as well as internal factors.

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Kotak Equities have made some changes to their model portfolios in the large- caps. With IT they have added some weight to Tech Mahindra by removing some weight from Tata Consultancy Services (TCS).

In the mid-cap model portfolio, they have added Aarti Industries and removed Whirlpool, they have also included Ashok Leyland at the expense of Kalpataru Power.

Watch the accompanying video of CNBC-TV18’s Nimesh Shah for more details.

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First Published:Feb 17, 2022 5:26 PM IST