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Levels of 16,500-17,000 should hold out for Nifty50: Nirmal Bang's Rahul Arora

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Levels of 16,500-17,000 should hold out for Nifty50: Nirmal Bang's Rahul Arora

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Nirmal Bang Institutional Equities CEO Rahul Arora believes the earnings estimates have factored in an increase of 25 basis points by the RBI in 2022. 

Levels of 16,500-17,000 should hold out for the Nifty50, Rahul Arora, CEO of Nirmal Bang Institutional Equities, said in an interview to CNBC-TV18. Arora said the earnings estimates have factored in an increase of 25 basis points by the Reserve Bank of India (RBI) in 2022.
The market has discounted the upwards revision by the central bank, he said.
“Looking ahead one year forward earnings where earnings will be in December of next year, a reasonable floor given what the US Fed, the RBI and what is happening on the health front, somewhere around 16,500-17,000 is a reasonable flow for the market in the short to medium term,” he said.
Speaking on the automobile sector, Arora said TVS Motor Company is ahead of Bajaj Auto and Hero MotoCorp in the electric vehicle game.
"Our own sense is that TVS Motor is slightly ahead of the game, compared to some of its peers like Bajaj Auto or Hero Motocorp. So, if you're wanting to play the two-wheelers, from an electric vehicle (EV) perspective, I think TVS is probably one place where you want to park your money," he said.
Nirmal Bank Institutional Equities is positive on growth in the health insurance sector going forward, he said. Insurers can easily compound by 20 percent for the years to come, he added.
Arora said he will look to subscribe to the Star Health IPO.
Ace investor Rakesh Jhunjhunwala-backed Star Health and Allied Insurance's IPO will end for subscription later in the day.
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