The IPO pipeline is expected to remain healthy in Samvat 2082, supported by steady domestic liquidity, and sustained investor participation, Jaspreet Singh Arora said.
Sunil Shankar Matkar
October 17, 2025 / 07:04 IST
Jaspreet Singh Arora is the Chief Investment Officer at Equentis Wealth Advisory Services,
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Projecting a steady yet optimistic outlook for Samvat 2082, Jaspreet Singh Arora, Chief Investment Officer at Equentis Wealth Advisory Services, expects the Nifty 50 to trade within the 27,000-28,000 range, supported by strength in consumption, financials, and industrials sectors.
Arora anticipates a robust IPO pipeline in the new Samvat year, with over 150 companies likely to tap the capital markets and raise around Rs 2-3 lakh crore through main-board and SME issues.
Despite the sharp listing gains in LG Electronics India, he maintains a constructive long-term view on the stock, citing its strong fundamentals.
Here are the edited excepts
Which sectors are you bullish on for Samvat 2082?
We remain bullish on consumption, financials, and industrials sectors. The consumer sector is well-positioned for strong earnings growth, supported by a revival in rural demand, declining input costs, and recent GST rate cuts. Financials are poised to gain from easing interest rates, regulatory backing, and tax incentives that are fueling credit expansion.
Industrials and capital goods are poised for robust earnings growth, underpinned by strong infrastructure investments, sustained government capex, and improving margins. Within this space, we hold a particularly positive outlook on cement, metals and telecom.
Can real estate and metals be considered contrarian bets at this point?
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Real estate and metals offer selective contrarian opportunities within a cyclical recovery. Real estate sector is entering a phase of stability in FY26, despite a 19 percent YoY rise in pre-sales during FY25. Given a 13 percent decline in Nifty Realty Index since January 2025, we suggest stock specific approach in this sector.
In metals, muted long-term returns contrast with improving fundamentals like infrastructure push, capacity expansion and China applying supply curbs. Last 3-month gain of 17 percent in Nifty Metal Index and valuations around long term average (P/E ~19x, P/B ~1.7x), suggest easy money is behind us. However select stocks can be evaluated as cyclical recovery play along with comfort of attractive dividend yield.
Are you optimistic about the prospects of the co-working space sector?
Yes, but only from a 3-5-year view. India’s co-working sector is projected to grow at 15–20 percent CAGR, reaching ~100 million square feet by 2026 from ~55 million square feet in 2023. Flex spaces already account for ~10-15 percent of total office leasing, driven by startups and hybrid work adoption. Tier-I cities like Bengaluru and Hyderabad lead demand, while enterprise clients now form >50 percent of occupiers, improving revenue stability and long-term viability.
Do you expect the IPO pipeline to remain strong in Samvat 2082? What is your estimate for the potential amount of capital raised?
The IPO pipeline is expected to remain healthy in Samvat 2082, supported by steady domestic liquidity, and sustained investor participation. Over 150 companies are likely to tap the market, with a total fundraising potential of around Rs 2–3 lakh crore across main-board and SME issues.
While policy stability and strong macro fundamentals should sustain activity, elevated valuations and global risk sentiment could influence timing and subscription trends through the year.
Is now a good time to increase exposure to banks and food delivery giants in anticipation of gains during Samvat 2082?
We remain constructive on the banking sector and expect outperformance in Samvat 2082. The recent results suggests that large private banks will surprise positively on NIMs. Business updates given by most of the banks also have shown a good inch up in loan growth, which was above street expectations.
Signs of asset quality improvement, especially in the unsecured segment, instill confidence further.
For food delivery platforms, improving consumption trends, premiumization, rapid digitalization, mean age of Indian below 30 and efficiency gains support growth prospects from a 3-5-year view; near term outperformance may be subdued.
Despite global headwinds, do you see the Nifty 50 reaching the 27,000–28,000 range in Samvat 2082, supported by strong domestic fundamentals?
We anticipate that the Nifty should trade within the range of 27,000 to 28,000 during Samvat 2082. Earnings growth assumptions of 8 percent YoY for FY26E and 16 percent YoY for FY27E in Nifty EPS, and basing it on 22x FY27EPS, Nifty is expected to surpass 28,000 in 2026. Strong domestic fundamentals, robust liquidity, deceleration in global noise should aid this journey.
Do you consider LG Electronics to be a compelling investment opportunity at present? (no recommendation, only analysis)
LG Electronics India presents a compelling investment case, supported by strong brand leadership across home appliances, healthy margins, and a solid growth roadmap. The company is well-placed to benefit from rising domestic demand and expanding export opportunities.
With focus on premiumization and localization, earnings visibility remains strong. Its impressive ROCE of 40+ percent underlines efficient capital deployment driving profitability. Despite a huge listing pop-up, the strong fundamentals continue to justify a constructive view on the stock from a long term view.
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