Homemarket Newsstocks News

    Nirmal Bang prefers SBI Life, ICICI Pru in insurance space

    market | IST

    Nirmal Bang prefers SBI Life, ICICI Pru in insurance space

    Mini

    Looking at the consensus earnings for the fiscal year 2020 and 2021, the markets are unlikely to sustain the current rally, said Rahul Arora, CEO of Nirmal Bang Institutional Equities

    Looking at the consensus earnings for the fiscal year 2020 and 2021, the markets are unlikely to sustain the current rally, said Rahul Arora, CEO of Nirmal Bang Institutional Equities. The recent fervour in the markets was triggered by rising foreign inflows following a series of events, including US Federal Reserve monetary policy and the announcement of elections dated, he noted.
    “It has caught most institutional investors by surprise. I do not think anyone expected us going into the election at 12,000 on the Nifty; it was probably a post poll outcome. I am a little worried given where I see consensus earnings on FY20-21 that this purely on fundamentals may not sustain,” Arora said.
    Speaking about SBI Life and ICICI Prudential, Arora said, “We have initiated on the entire sector. In addition to SBI Life and ICICI Prudential, we have also covered Max and HDFC Life. However, SBI Life and ICICI Prudential are our preferred picks in the space.”
    Disclaimer:
    The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
    next story

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng