D-Street's lofty equity valuations are pure Bollywood: Andy Mukherjee

Indian equity valuations puzzle experts. Cement companies are pricier than global peers. Some believe retail investors follow tycoons like Mukesh Ambani and Gautam Adani. Adani's cement consolidation may boost pricing power. Domestic funds face pressure to invest due to liquidity. Tech stocks attract global investors, but India lags in innovation. Local investors drive up valuations, even for mediocre firms.