The Indian benchmark equity index Nifty is trading at a valuation lower than its historical average, while many of the index heavyweights, including HDFC Bank, Axis Bank, SBI, Maruti Suzuki, Tata Steel and Mahindra & Mahindra, are also trading at a discount to their 10-year average valuations, as per a report by domestic brokerage house Motilal Oswal. The Nifty is …
