-- Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here.Tesla Gets Tagged With Once-Unthinkable Call: Sales Will Fall
“The regulatory actions against small cap stocks are testimony to the valuation froth in India. India could continue to underperform Asia going into the national elections in the next few weeks and amid the chip rally in other markets in the region,” said Nitin Chanduka, a strategist at Bloomberg Intelligence.
In light of the regulator’s remarks, ICICI Prudential Asset Management Co. on Tuesday said it temporarily halted lump-sum deposits in its mid and small-cap funds starting Thursday. Last month, Kotak Asset imposed limits on flows on recurring plans in its small-cap fund, citing the sharp surge in this segment that has led to “valuation distortions” in some cases.
-- Trend-following quants are soaring once again on Wall Street, posting their best start to a year since 2008, thanks to relentless stock market gains and sharp moves across the commodity complex.
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