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stocks really make money even if the

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budget is supporting them from these

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valuations that's my question to see the

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valuation in the market is still not

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very comfortable we we have been waiting

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on earnings growth so we have been going

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through some cyclical slowdown so see

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the as I told the long-term trajectory

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is intact there is no doubt about it we

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have to uh but still I strongly feel the

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small and midcap stocks the way they

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have moved in the last 3 4 years this

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was unprecedented in the history of

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Indian market markets so we have to give

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time to consolidate and uh and I think

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the next rally is going to happen with

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FIA FIA money flow will start now it

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that selling will reverse I'm very

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confident markets have come to some kind

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of reasonable valuation after the Deep

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correction in the recent past so I feel

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F will drive the next rally in the

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market but at the same time I feel in

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spite of this fall in the small and

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midcaps 30 40% of the small and midcap

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stocks are still

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overvalued in the process of last 3 4

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years the way these stocks have moved

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about five and 10 times and many stocks

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are still managed uh by the wested

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interest operators or promoters so I'm

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talking very small companies sure so

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investors especially the new come uh the

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newbies in the market they should be

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very careful about the valuation of

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stocks you know when when there is a

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bull market the cycle happens everybody

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get carried away they go on talking the

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you know good things about the company

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the future the industry for India now

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everybody's using India uh the vixit bat

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theme uh you know apply to everything

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and everybody so we have to be careful

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about the valuation very many small

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companies with reasonable growth were

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quoting at 50 60 some of them 100 120p

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so these are not sustainable so we have

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seen a very good healthy correction

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there are some more stocks to be

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corrected there there can be time wise

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correction but we have come to somehow a

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healthy kind of a market situation it is

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a wonderful stock market in India for

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stock picking uh that bottom up approach

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is what is required yes okay which is

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why we have experts like you