Largecaps at 20-year valuation lows versus midcaps; banks, cement top picks: George Joseph

George Joseph , CIO and CEO – Equity, ASK Investment Managers explains why Indian largecaps look cheapest in 20 years versus midcaps. He expects earnings leadership from banks, cement and domestic cyclicals, remains cautious on metals, and highlights energy transition as a long-term theme amid global uncertainty and valuation-led opportunities in Nifty 50 stocks.