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ā¢ Kotak Institutional Equities favours mega-caps for their reasonable valuations and resilience against uncertainties.
ā¢ They categorise Indian markets into three segments: mega-caps in a bear market, large-caps and high-quality mid-caps in a bull market, and low-quality mid-caps and small-caps in a bubble market.
ā¢ The market faces significant Indian elections but doesn't expect negative surprises, assuming continuity in the central government's policies.