In a rare television appearance on Tuesday, Nirmal Bang's managing director and promoter, Kishore Bang, offered a bullish long-term outlook for Indian markets, stating that the current conditions are "part and parcel of every bull run."
Kishore Bang pointed to the robust fundamentals of the national economy as the primary driver for his optimism while also referring to the ongoing IPO fervour.
"From a long-term perspective, the market looks good," Bang told NDTV Profit. "I say bull run because the dynamics of the Indian economy is such that the market looks good."
Bang believes that excess domestic liquidity, driven by domestic flows and robust mutual fund investment trends, have led to an IPO frenzy.
"There is too much liquidity in the domestic markets," he said, explaining that this leads to a "pipeline of IPOs, which get oversubscribed."
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