CIO Opinion from Trust Mutual Fund’s Mihir Vora is drawing attention as investors try to make sense of a market that has spent months moving more sideways than sharply higher.

CIO Opinion from Mihir Vora says that he feels reassured by the fact that valuations have come down, but he does not think investors should be irrational. The man who thinks India’s equity markets are poised to give better returns has a different take on what’s in store for investors in the next few months.

The froth has been taken off

The main attraction, according to Vora from Trust Mutual Fund, is that some of the froth has been taken off the valuations. In the February 2026 interview, he said that the premium of India over other emerging market counterparts was largely gone after its disappointing performance in 2025.

That does not mean that India is cheap, but it certainly provides a better risk reward ratio for investors. For those who have waited for the right time to get back into equity markets, the combination of reassurance of better earnings and valuation discounts could be a good omen.

Where does he see the best value?

Vora is not ready to chase the overall market. He has always advocated a bottom-up approach and his latest comments suggest that it still holds true. Value opportunities are likely to come from financials, mid and small caps, manufacturing and some technology spaces, he feels.

Vora as said in July that “Q1 earnings are better than expected so far” and he has been upbeat about the financial sector. He has also been suggesting that investors should look at individual stocks within the large cap IT space rather than the sector as a whole.

Another area to watch is FII inflows.

Vora has always believed that positive developments in global markets and FPIs favouring India would improve the equity space.

Will he change his narrative if the market falls 20%?

That probably is one of the most awaited questions. In his recent interaction, Vora talks about what an investor in SIPs should do if the markets were to fall sharply. His answers provide clarity to many who have stopped thinking about India’s equities as a growth story due to the fear of corrections. The man knows how to address value investors who are likely to read too much into a correction.

Business Fortune believes that a sharp selloff must be tempered with the understanding of earnings and valuations.

 

FAQs

Who is Mihir Vora?

He is the Chief Investment Officer of TRUST Mutual Fund.

What does he say about Indian equities?

His latest comments suggest optimism about the medium term prospects of India as the risk-reward equation has improved.

Has India’s valuation premium disappeared?

Yes, in his February 2026 interview, he said that the premium had largely disappeared after the underperformance in 2025.

Which sectors does he think are attractive?

His latest comments suggest that he sees value in financials, mid and small caps, manufacturing and technology.

Should investors be worried if the market falls 20%?

A sharp fall should not be a concern for value investors as long as fundamentals remain intact.