Largecaps take charge again; Reliance could gain another 12

Indian equity markets are seeing a strong rotation into largecaps as investors seek safety, value and steady earnings. MOFSL’s Rahul Shah expects further upside in Reliance, banks, telecom and metals, supported by attractive valuations and improving fundamentals. Large IT names are also back in favour as demand stabilises. Here’s what’s driving the rally and sectors to watch.