Macro headwinds are behind us; largecaps poised to outperform: Prashant Jain

Veteran investor Prashant Jain expressed a constructive outlook on Indian equities, stating that macro headwinds facing the economy are now behind it. He highlighted a healthier balance of payments outlook, supportive RBI measures, and a shift in equity ownership from foreign investors to domestic institutional investors as key positives. Jain sees particular value in large private sector banks, citing improving credit growth and attractive valuations after prolonged foreign selling, and believes the recent correction in IT stocks has created opportunities despite ongoing pressure from cheaper global peers trading at 20-30 percent lower multiples.