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Milan Parikh Urges Balanced Investing Across Assets and Markets
Milan Parikh says investors should understand what a company earns and how strong its business is before buying its shares.
A fast-growing company is not automatically a good investment if its price already assumes too much growth.
He says big, medium and small companies can all offer opportunities, but investors should judge each business on its own.
Shares, bonds, gold and cash do different jobs in a portfolio.
Gold can help spread risk, but buying after a big price rise can be difficult, so gradual investing may help.
Bonds can provide income, while cash gives investors flexibility.
Parikh sees possible opportunities in areas such as manufacturing, infrastructure and financial services.
He says the market’s future will depend on whether company earnings recover broadly and meet expectations.
Jainam Broking’s Milan Parikh says investors should focus on earnings quality, cash flow, balance sheets, management and valuations—not growth figures alone.
He sees opportunities across market-cap segments, but says risk and reward should be judged company by company.
Parikh says equities, fixed income, gold and cash each serve different portfolio purposes; he highlights selectivity in equities and the income available from government bonds.
He says gold can diversify a portfolio, while staggered purchases may help manage entry risk after its strong rally; silver is more sensitive to industrial demand and economic activity.
Parikh points to domestic investment, manufacturing, infrastructure and financialisation as potential themes, while warning against sectors or stocks whose expectations exceed likely earnings.
- Who
- Milan Parikh of Jainam Broking.
- What
- Parikh discussed investment risks, asset allocation, market valuations and prospects for Indian equities over the next 12–18 months.
- Where
- The discussion focuses on Indian markets.
- When
- The interview addresses the next 12–18 months and references market data from 2025 and 2026.
- Why
- Parikh offered guidance for assessing investments amid market uncertainty, valuation concerns and changing earnings expectations.
Growth and market participation
Stability and risk management
Portfolio allocation
Growth and market participation
Parikh says equities remain important for longer-term investors seeking participation in corporate earnings and economic growth.
Stability and risk management
He also highlights fixed income for income and stability, gold for diversification, and cash for flexibility; he recommends allocation rather than an all-or-nothing choice.
Precious metals after a rally
Growth and market participation
Parikh says gold retains a role in portfolios as a diversifier and store of value, regardless of short-term price movements.
Stability and risk management
He warns that sharp rallies can make entry riskier and suggests existing investors review allocations and fresh investors consider staggered investments.
Key facts
- Interviewee
- Milan Parikh, Jainam Broking
- Investment horizon discussed
- 12–18 months
- 10-year G-Sec yield
- Around 7%, according to the interview
- Silver performance cited
- Close to 130% in 2025; it crossed Rs 2 lakh per kg
- Gold ETF inflows cited
- Rs 24,040 crore in January 2026, described as the highest monthly inflow at the time
- Scheduled commercial banks’ gross NPAs
- 2.15% as of September 2025, described as a historic low
- FY27 Nifty earnings estimates
- Revised higher for 23 of 50 constituents in August; overall estimates rose 0.1%
Sources
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