Nuvama's Ranka sees limited stock downside, banks may grow 20%
In short
Nuvama’s Nikhil Ranka said stocks may not fall much and banks could post about 20% operating profit growth. CNBC TV18 also reported that he thinks a cut in STT is more likely than capital gains tax relief, and that IT shares may not rise much after their recent run-up.
This matters for traders because it points to where he sees upside and downside. The reporting does not say which stocks he likes most or whether policy changes will actually happen.
What the reporting says
Nuvama's Nikhil Ranka said stocks have limited downside and expects banks to deliver around 20% operating profit growth, according to CNBC TV18 Market. He also said a cut in securities transaction tax looks more likely than capital gains tax relief and that IT stocks may have limited upside after a recent rally. The reporting does not identify the specific stocks or broader market timeline beyond his comments.
Why it matters
Nuvama’s Nikhil Ranka is quoted as expecting limited downside for stocks, around 20% operating profit growth for banks, and limited upside for IT shares after a rally. The CNBC TV18 summary also says he sees a possible securities transaction tax cut as more likely than capital gains tax relief. The comments may influence market positioning, but the source does not state any official policy move or earnings result.