Indian stocks are still trading at expensive valuations even after a recent selloff, Ajay Srivastava says. In remarks reported by NDTV, Srivastava points to high price-to-earnings (PE) ratios in the market, saying investors are seeing PEs of around 70 and 80. He argues that investors should not buy at such levels, stating he “wouldn’t buy a PE of 80 today.” Srivastava also compares these valuations with those of certain global technology companies, saying that some international technology leaders trade at lower valuation multiples than Indian equities. The comments imply that the selloff has not sufficiently reduced market valuations to make them comparable with lower-valued peers. The report presents Srivastava’s view as an assessment of current pricing rather than a formal forecast, and it does not cite specific indices, companies, or the extent of the selloff.