We do not expect DIIs to cash out, says Jitendra Arora of ICICI Pru Life

Jitendra Arora, senior executive vice-president and fund manager for equity at ICICI Prudential Life Insurance expects earnings growth for FY24 & FY25 to be around 24% and 14%, respectively.

Calendar year 2023 has turned out to be a good year for equity investors with indices rallying to new highs. JITENDRA ARORA, senior executive vice-president and fund manager for equity at ICICI Prudential Life Insurance, tells Puneet Wadhwa in an email interview that India remains an attractive long-term destination. Edited excerpts:

Do you expect the markets to remain range-bound and offer limited upside in 2024 as the two big global economies - the US and India - face elections?

Asset prices are a function of fundamentals and short-term factors like liquidity, sentiment, environment (political/policy) etc. The Indian equity market has