Learn all about Valuations whether it’s on the expensive or attractive side compared to the past and know the factors which may drive the equity markets with our Valuations Perspective.
Government’s release of Rs 86.55 billion to certain
banks for preferential allotment of shares, hopes of more reform
measures by the government in the upcoming Budget, and
sustained inflows from the foreign institutional investors (FIIs)
augured well for the local indices.
Read the full document to know more.
Monthly Market Outlook (November 2021) | ICICI Prudential Mutual Fundiciciprumf
Equity Outlook: Equity markets pacing ahead now the Economy prepares to catch up.
Fixed income: RBI policy normalisation process may result in short-term rates moving higher and reduction in steepness of yield curve.
We believe that volatility is expected to prevail as the world comes to terms with the evolving COVID-19 situation & its economic fallout. Investors must embrace volatility & be cognizant of their asset allocation while invest.
RBI normalising liquidity conditions may give rise to interest rate volatility, read the October edition of the ICICI Prudential Debt Valuation Index to know how to navigate fixed income markets
As per our, VCTS (Valuations, Cycle, Trigger, Sentiments) Framework, Equity investing needs to be looked at only from a long term perspective coupled with ‘Dynamic Asset Allocation Scheme’ that aims to manage volatility.
Know what our equity valuation index indicates to navigate the current equity markets. Read our October edition of the ICICI Prudential Equity Valuation Index to find out more!
ICICI Prudential Equity Valuation Index | September 2021iciciprumf
Our Equity Valuation Index highlights that valuations are not cheap and we recommend equity investing only with a long term perspective coupled with ‘Dynamic Asset Allocation Scheme’ that aims to manage equity exposure basis market valuations.
Government’s release of Rs 86.55 billion to certain
banks for preferential allotment of shares, hopes of more reform
measures by the government in the upcoming Budget, and
sustained inflows from the foreign institutional investors (FIIs)
augured well for the local indices.
Read the full document to know more.
Monthly Market Outlook (November 2021) | ICICI Prudential Mutual Fundiciciprumf
Equity Outlook: Equity markets pacing ahead now the Economy prepares to catch up.
Fixed income: RBI policy normalisation process may result in short-term rates moving higher and reduction in steepness of yield curve.
We believe that volatility is expected to prevail as the world comes to terms with the evolving COVID-19 situation & its economic fallout. Investors must embrace volatility & be cognizant of their asset allocation while invest.
RBI normalising liquidity conditions may give rise to interest rate volatility, read the October edition of the ICICI Prudential Debt Valuation Index to know how to navigate fixed income markets
As per our, VCTS (Valuations, Cycle, Trigger, Sentiments) Framework, Equity investing needs to be looked at only from a long term perspective coupled with ‘Dynamic Asset Allocation Scheme’ that aims to manage volatility.
Know what our equity valuation index indicates to navigate the current equity markets. Read our October edition of the ICICI Prudential Equity Valuation Index to find out more!
ICICI Prudential Equity Valuation Index | September 2021iciciprumf
Our Equity Valuation Index highlights that valuations are not cheap and we recommend equity investing only with a long term perspective coupled with ‘Dynamic Asset Allocation Scheme’ that aims to manage equity exposure basis market valuations.
Annual Fixed Income Outlook 2022 | ICICI Prudential Mutual Fundiciciprumf
Shifting Sands, a year of active management - In the Fixed Income space, currently there are lot of dynamic elements at play. With limited scope for rate cuts, we recommend investing in Floating Rate Bonds which may benefit from rising interest rates. We recommend investing in spread assets with an aim to benefit from higher carry.
Annual Equity Outlook 2022 | ICICI Prudential Mutual Fundiciciprumf
The current market scenario reminisces one of Shifting Sands wherein volatility may prevail due to dynamically changing macros. This warrants the need for active management. Hence, we recommend schemes that have flexibility to invest across different asset classes, Marketcap & Themes
Annual Outlook 2022 | ICICI Prudential Mutual Fundiciciprumf
The current environment is akin to shifting sands, where dynamism is at its peak. Hence, it would be prudent to have an active management approach. Read our annual outlook 2022, to know more.
ICICI Prudential Debt Valuation Index | September 2021iciciprumf
We remain very cautious on duration as the interest rates are expected to remain volatile due to RBI normalizing liquidity conditions and upside risk to inflation due to economic recovery.
Valuations are not cheap, Business Cycle remains in the nascent stage. We believe, the current macro-economic scenario is much more conducive for a Business Cycle Recovery due to Global and domestic policy response.
Our ‘VCTS’ framework (Valuations, Cycle, Trigger, Sentiments) is currently indicating that market Valuations are not cheap. Business Cycle remains in the nascent stage.
Equity investing can be looked at only from a long term perspective coupled with “Dynamic Asset Allocation Scheme’ that aims to manage market volatility.
Indian equity indices ended lower in May 2020 owing to
concerns about rise in domestic Covid-19 cases and extension of the nationwide lockdown. Benchmarks S&P BSE Sensex and Nifty 50 declined 3.84% and 2.84%, respectively in May 2020.
Our ‘VCTS’ framework (Valuations, Cycle, Trigger, Sentiments) is currently indicating that Valuations are reasonable, Business Cycle has bottomed out, Trigger would be the trajectory of COVID-19 growth curve, Sentiments are negative since FPIs are withdrawing money and past returns have been muted. This suggests that it is a good time to invest in equities
Our Equity Valuation Index indicates adding equities in a staggered manner with a ‘Long Term Horizon’. and that maintaining asset allocation in near term may help manage volatility.
The policy decisions are in line with our expectation on repo rate and stance. However, we were expecting a hike in reverse repo rate. We are in an interest-rate rise cycle and hence recommend active duration management.
Interbank call money rates remained mostly below the RBI‟s repo rate of 4% in May owing to comfortable liquidity in the system. However, some pressure was seen on the rates following intermittent spike in demand for funds from banks.
Currency in circulation rose 18.4% on-year in the week ended May 22, 2020, compared with 14.2% growth a year ago. The RBI, via its liquidity window, absorbed Rs 5114.71 billion on a net daily average basis in May 2020, compared with net liquidity absorption of Rs 4751.55 billion in April 2020.
Bank credit growth rose 6.5% on-year in the fortnight ended May 8, 2020, compared with 7.2% on-year growth reported in the fortnight ended April 10, 2020.
Monthly market outlook (July 2021) | ICICI Prudential Mutual Fundiciciprumf
Valuations are not cheap but the business cycle remains in the nascent phase. Read our Monthly Market Outlook for July 2021 to understand more about Equity Markets and Fixed Income Markets.
We believe valuations are not cheap, but business cycle remains in the nascent stage. Prefer middle-of-the-road approach and recommend investing in schemes with higher flexibility.
We believe that the divergence between Value & Growth stocks continues to prevail. Currently, fundamentally sound value stocks are available at inexpensive valuations & have better earnings visibility. Read our Equity Update for August 2020
ICICI Prudential Mutual Fund- Valuations Perspective October 2020iciciprumf
Our ‘VCTS’ framework (Valuations, Cycle, Trigger, Sentiments) continues to indicate that market Valuations (P/E) are driven by Mega cap stocks.
#TarakkiKarein #MutualFunds #Markets
Get a bird's eye view on Equity Markets through our Equity Valuations Perspective that highlights the degree of attractiveness of markets based on our VCTS framework.
Equity Valuations Perspective | April 2022iciciprumf
Get a bird's eye view on Equity Markets through our Equity Valuations Perspective that highlights the degree of attractiveness of Markets based on our VCTS framework.
Annual Fixed Income Outlook 2022 | ICICI Prudential Mutual Fundiciciprumf
Shifting Sands, a year of active management - In the Fixed Income space, currently there are lot of dynamic elements at play. With limited scope for rate cuts, we recommend investing in Floating Rate Bonds which may benefit from rising interest rates. We recommend investing in spread assets with an aim to benefit from higher carry.
Annual Equity Outlook 2022 | ICICI Prudential Mutual Fundiciciprumf
The current market scenario reminisces one of Shifting Sands wherein volatility may prevail due to dynamically changing macros. This warrants the need for active management. Hence, we recommend schemes that have flexibility to invest across different asset classes, Marketcap & Themes
Annual Outlook 2022 | ICICI Prudential Mutual Fundiciciprumf
The current environment is akin to shifting sands, where dynamism is at its peak. Hence, it would be prudent to have an active management approach. Read our annual outlook 2022, to know more.
ICICI Prudential Debt Valuation Index | September 2021iciciprumf
We remain very cautious on duration as the interest rates are expected to remain volatile due to RBI normalizing liquidity conditions and upside risk to inflation due to economic recovery.
Valuations are not cheap, Business Cycle remains in the nascent stage. We believe, the current macro-economic scenario is much more conducive for a Business Cycle Recovery due to Global and domestic policy response.
Our ‘VCTS’ framework (Valuations, Cycle, Trigger, Sentiments) is currently indicating that market Valuations are not cheap. Business Cycle remains in the nascent stage.
Equity investing can be looked at only from a long term perspective coupled with “Dynamic Asset Allocation Scheme’ that aims to manage market volatility.
Indian equity indices ended lower in May 2020 owing to
concerns about rise in domestic Covid-19 cases and extension of the nationwide lockdown. Benchmarks S&P BSE Sensex and Nifty 50 declined 3.84% and 2.84%, respectively in May 2020.
Our ‘VCTS’ framework (Valuations, Cycle, Trigger, Sentiments) is currently indicating that Valuations are reasonable, Business Cycle has bottomed out, Trigger would be the trajectory of COVID-19 growth curve, Sentiments are negative since FPIs are withdrawing money and past returns have been muted. This suggests that it is a good time to invest in equities
Our Equity Valuation Index indicates adding equities in a staggered manner with a ‘Long Term Horizon’. and that maintaining asset allocation in near term may help manage volatility.
The policy decisions are in line with our expectation on repo rate and stance. However, we were expecting a hike in reverse repo rate. We are in an interest-rate rise cycle and hence recommend active duration management.
Interbank call money rates remained mostly below the RBI‟s repo rate of 4% in May owing to comfortable liquidity in the system. However, some pressure was seen on the rates following intermittent spike in demand for funds from banks.
Currency in circulation rose 18.4% on-year in the week ended May 22, 2020, compared with 14.2% growth a year ago. The RBI, via its liquidity window, absorbed Rs 5114.71 billion on a net daily average basis in May 2020, compared with net liquidity absorption of Rs 4751.55 billion in April 2020.
Bank credit growth rose 6.5% on-year in the fortnight ended May 8, 2020, compared with 7.2% on-year growth reported in the fortnight ended April 10, 2020.
Monthly market outlook (July 2021) | ICICI Prudential Mutual Fundiciciprumf
Valuations are not cheap but the business cycle remains in the nascent phase. Read our Monthly Market Outlook for July 2021 to understand more about Equity Markets and Fixed Income Markets.
We believe valuations are not cheap, but business cycle remains in the nascent stage. Prefer middle-of-the-road approach and recommend investing in schemes with higher flexibility.
We believe that the divergence between Value & Growth stocks continues to prevail. Currently, fundamentally sound value stocks are available at inexpensive valuations & have better earnings visibility. Read our Equity Update for August 2020
ICICI Prudential Mutual Fund- Valuations Perspective October 2020iciciprumf
Our ‘VCTS’ framework (Valuations, Cycle, Trigger, Sentiments) continues to indicate that market Valuations (P/E) are driven by Mega cap stocks.
#TarakkiKarein #MutualFunds #Markets
Get a bird's eye view on Equity Markets through our Equity Valuations Perspective that highlights the degree of attractiveness of markets based on our VCTS framework.
Equity Valuations Perspective | April 2022iciciprumf
Get a bird's eye view on Equity Markets through our Equity Valuations Perspective that highlights the degree of attractiveness of Markets based on our VCTS framework.
Equity Valuations Perspective | September 2022iciciprumf
Wondering what should be on your market checklist before investing in equity? Look no further than our VCTS (Market Valuations, Business Cycle, Triggers, Sentiments) framework for a straightforward formula!
Equity Valuations Perspective | August 2022iciciprumf
Wondering what should be on your market checklist before investing in equity?
Look no further than our VCTS (Market Valuations, Business Cycle, Triggers, Sentiments) framework for a straightforward formula!
Equity Valuations Perspective | December 2022iciciprumf
Get a birds eye view of equity markets through ICICI Prudential Equity Valuations Perspective highlights the degree of attractiveness of equity markets based on our VCTS (Valuations, Business Cycle, Triggers and Sentiments) Framework.
Equity Valuations Perspective | August 2023iciciprumf
See how our VCTS (Valuations, Cycle, Triggers and Sentiments) framework can help us understand Equity Markets better. The below document highlights the impact of dynamic variables on equity markets across time periods. Read on to know more!
Equity Valuations Perspective | January 2023 iciciprumf
Get a birds eye view of equity markets through ICICI Prudential Equity Valuations Perspective. The document highlights the degree of attractiveness of equity markets based on our VCTS (Valuations, Business Cycle, Triggers and Sentiments) Framework.
Get a bird's eye view on Equity Markets through our Equity Valuations Perspective that highlights the degree of attractiveness of Markets based on our VCTS framework.
Equity Valuations Perspective | June 2023iciciprumf
See how our VCTS (Valuations, Cycle, Triggers and Sentiments) framework can help us understand Equity Markets better. The below document highlights the impact of equity markets on dynamic variables across time periods. Read on to know more!
Equity Valuations Perspective | November 2022iciciprumf
ICICI Prudential Equity Valuations Perspective highlights the degree of attractiveness of equity markets based on our VCTS (Valuations, Business Cycle, Triggers and Sentiments) Framework.
Equity Valuations Perspective | July 2023iciciprumf
See how our VCTS (Valuations, Cycle, Triggers and Sentiments) framework can help us understand Equity Markets better. The below document highlights the impact of equity markets on dynamic variables across time periods. Read on to know more!
#ICICIPrudentialMutualFund #Equity #Investments #MutualFunds
ICICI Prudential Mutual Fund- Valuations Perspective November 2020iciciprumf
Our Valuation perspective note indicates that Equity investing can be looked at from a staggered approach with a minimum horizon of ‘3-5 Yrs’ coupled with ‘Dynamic Asset Allocation Schemes’ that aim to manage equity exposure basis market valuations.
Equity Valuations Perspective | March 2023iciciprumf
See how our VCTS (Valuations, Cycle, Triggers and Sentiments) framework can help us understand Equity Markets better. The below document highlights the impact of equity markets on dynamic variables across time periods.
Read on to know more!
#ICICIPrudentialMutualFund #Equity #Investments #MutualFunds
Equity Valuations Perspective | May 2023iciciprumf
See how our VCTS (Valuations, Cycle, Triggers and Sentiments) framework can help us understand Equity Markets better. The below document highlights the impact of equity markets on dynamic variables across time periods. Read on to know more!
#ICICIPrudentialMutualFund #Equity #Investments #MutualFunds
Equity Valuations Perspective | January 2024iciciprumf
Navigate Equity Markets better through our VCTS (Valuations, Cycle, Triggers and Sentiments) framework. The document below highlights the impact of various dynamic variables on the equity market across time periods. Read on to know more!”
#ICICIPrudentialMutualFund #Equity #Investments #MutualFunds
Equity Valuations Perspective | April 2023 iciciprumf
See how our VCTS (Valuations, Cycle, Triggers and Sentiments) framework can help us understand Equity Markets better. The below document highlights the impact of equity markets on dynamic variables across time periods.
Read on to know more!
#ICICIPrudentialMutualFund #Equity #Investments #MutualFunds
Business Cycle is near bottom, Future Triggers would be the trajectory of COVID-19 growth curve and vaccine development, Sentiments are negative since FPI flows have moderated and past returns have been muted.
Our ‘VCTS’ framework (Valuations, Cycle, Trigger, Sentiments) is currently indicating that Valuations are reasonable, Business Cycle has bottomed out and FPIs are withdrawing money suggesting that it is a good time to invest in equities
Our ‘VCTS’ framework (Valuations, Cycle, Trigger, Sentiments) is currently indicating that Valuations are reasonable for long term investments, Business Cycle has bottomed out, Trigger would be the trajectory of COVID-19 growth curve and vaccine development, Sentiments are negative since FPI flows are low and past returns have been muted. This suggests that it is a good time to accumulate equities and hold for long term.
Does your portfolio have a blend of reasonable stability and potential growth?
Just as how a Sturdy Suspension and Powerful Engine together contribute to a smoother car ride, investing in a combination of Large and Mid cap stocks can offer the best of both worlds – Reasonable Stability + Potential Growth.
Know more: https://bit.ly/3UuS9x8
#ICICIPrudentialMutualFund #LargeCapFund #MidCapFund #MutualFunds #Investment
The rising sun of 2024 brings new hope for global markets! This sun shines a little brighter on the Indian economy as it gets off the tag of a 'fragile economy' to emerge as a robust one. The world economy is headed towards a 'Paradigm Shift' with India leading the way.
Explore this shift further with our Annual Outlook Report 2024!
#ICICIPrudentialMutualFund #AnnualOutlook #ETF
Stepping into 2024 with resilience and foresight!
New year has begun with a Paradigm Shift in trends of global and domestic macros.
While the global economies remain fragile, the Indian economy emerges as robust, defying the label of a fragile economy.
Explore the 2024 Outlook for insights on this Paradigm Shift!
#ICICIPrudentialMutualFund #MutualFunds #Investments #NewYear #2024
While there is some decline in China, there are positive market situations for India. What does that mean for an investor like you? See in December's Monthly Market Outlook here.
#ICICIPrudentialMutualFund #Investment #December2023 #MonthlyMarketOutlook #MutualFunds
Amidst global tensions, the global economies might be taking the strain but Indian economy continues the Goldilocks streak. Take a holistic view at what that might mean for you as an investor with the Monthly Market Outlook.
#ICICIPrudentialMutualFund #MonthlyMarketOutlook
ICICI Prudential Equity Valuation Index | Nov 2023 iciciprumf
Our latest Equity Valuation Index remains in the Neutral Index even after market corrections. But how do you smartly navigate through the market's volatility? Allocating your funds across different classes may help you. Have a look to understand better!
#ICICIPrudentialMutuaFund #Equity #EquityValuationIndex #Market #Investments
How can we prepare for the mood of the market? Use micro indicators for a comprehensive look at the market in this month's Market Outlook!
#ICICIPrudentialMutualFund #MonthlyMarketOutlook #October #Investment #MutualFunds
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
BONKMILLON Unleashes Its Bonkers Potential on Solana.pdfcoingabbar
Introducing BONKMILLON - The Most Bonkers Meme Coin Yet
Let's be real for a second – the world of meme coins can feel like a bit of a circus at times. Every other day, there's a new token promising to take you "to the moon" or offering some groundbreaking utility that'll change the game forever. But how many of them actually deliver on that hype?
Yes of course, you can easily start mining pi network coin today and sell to legit pi vendors in the United States.
Here the telegram contact of my personal vendor.
@Pi_vendor_247
#pi network #pi coins #legit #passive income
#US
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
1. VALUATIONS
PERSPECTIVE
Our ‘VCTS’ framework (Valuations, Cycle, Trigger, Sentiments) is currently indicating that market
Valuations are not cheap. Business Cycles have started picking up. Future market triggers would be how the
new variant of COVID-19 evolves , effectiveness of vaccination against the new variant, pace & quality of
vaccination drive, a stickier inflation profile on the back of supply-side constraints and US Fed roadmap on
withdrawal of stimulus. Sentiments are not euphoric, but appears high in certain pockets. As per our VCTS
Framework, Equity investing can be looked at only from a long term perspective coupled with ‘Dynamic Asset
Allocation Scheme’ that aims to manage market volatility
Time period considered: December 2007 – Markets pre Global Financial Crisis (GFC) (Peak Valuations), October 2008 – Market fall post GFC (Low Valuations), January 2018
– Pre-NBFC & Pre- US-China crisis (Peak Valuations), Nov 2021 –Current Valuations. All data is as of Nov 30, 2021 unless stated otherwise. Source: NSE, BSE India, NSDL,
Reserve Bank of India, Edelweiss Securities, Kotak Securities, Axis Direct; P/E: Price to Earnings Ratio; P/B: Price to Book Ratio; CAGR: Compound Annualised Growth Rate;
YoY: Year on Year; FPI: Foreign Portfolio Investors; IIP: Index of Industrial Production; GDP: Gross Domestic Product, EPS – Earnings Per Share. Returns & EPS growth
mentioned are in CAGR terms. G-Sec yields is for 10 year Govt. Bond Yields (6.10 GS 2031). Current Mcap to GDP ratio is calculated assuming nominal GDP estimates for
Q1FY22 on a y-o-y basis from Q1FY21 (Edelweiss Research estimates have been used). Past performance may or may not sustain in future.
Parameters ('VCTS' Framework)
December
2007
October
2008
January
2018
November
2021
‘V'aluations
Trailing P/E Nifty 50 27.62 12.57 27.50 23.43
Trailing P/B Nifty 50 6.39 2.42 3.73 4.25
Market Cap to GDP Ratio 149% 54% 93% 112%
‘C'ycle
Capacity Utilisation 91.7% 75.9% 75.2% 60.0% (Q1FY22)
Credit Growth 23.3% 28.5% 11.0% 7.1%
‘S'entiments
Net FPI Flows (12 Months trailing in Rs. Cr) 80,915 -52,410 66,210 1,08,868
Nifty 50 Returns:
1 Year 54.8% -51.1% 28.8% 31.0%
2 Year 47.1% -12.2% 20.7% 18.2%
3 Year 43.4% 6.8% 7.8% 16.0%
Nifty 50 EPS growth:
1 Year 20.4% 9.7% 17.0% 66.6%
2 Year 27.9% 18.5% 10.1% 20.9%
3 Year 21.3% 18.8% 2.3% 12.5%
Macro Indicators
IIP (twelve months trailing) 15.58% 3.9% 7.5% 3.1% (Sep 2021)
GDP Growth 9.6% 5.8% 7.2% 8.4% (Q2 FY22)
USD/INR 39.27 49.3 63.6 75.13
Brent Crude (USD/Barrel) 93.75 65.3 69.1 70.57
G-Sec Yields
India 7.79% 7.45% 7.43% 6.33%
USA 4.02% 3.95% 2.71% 1.44%
2. The ‘VCTS’ (Valuations, Cycle, Trigger, Sentiments) framework is a market checklist which can be used to
determine market valuations/conditions for investment at any given point in time. The framework can
find application across asset classes. It aims to navigate markets efficiently by reflecting on various data
points used in the framework.
PE – Price-to-Earnings; PBV – Price to Book Value Ratio; COVID-19 is Coronavirus disease 2019.
The information contained herein is only for the purpose of information and not for distribution and do not constitute an offer to buy or sell or solicitation of
any offer to buy or sell any securities or financial instruments in the United States of America (“US”) and/or Canada or for the benefit of US persons
(being persons falling within the definition of the term “US Person” under the US Securities Act, 1933, as amended) or persons residing in Canada.
MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLY
Parameters ('VCTS' Framework)
Market V aluations
P/E or PBV helps in
ascertaining whether
the market is expensive
or cheap
Business C ycle
Indicators like capacity
utilization or credit growth
help in understanding the
strength of business cycle
T riggers
Triggers are events
which can have impact
on the overall equity
market
S entiments
Sentiments helps in
understanding investors
affinity towards the
equity market
Buy -
Valuations Cheap
Sell -
Valuations Expensive
Buy -
Cycle is weak
Sell -
Cycle is Strong
Triggers -
Unpredictable event
like COVID-19
Buy -
Negative Sentiments
Sell -
Positive