Liquidity holding market up; prefer Bata, Westlife Development: Nirmal Bang

Rahul Arora, CEO of Nirmal Bang Institutional Equities, on Tuesday, said that Westlife Development stock is knocking on the doors of Rs 10,000 crore of marketcap and the minute it crosses that threshold, it will come into the funds of a lot of midcap fund managers.

“On a technical factor, I would look at Westlife Development. The stock is knocking on the doors of Rs 10,000 crore of marketcap and the minute it becomes a Rs 10,000 crore company, it comes into the funds of a lot of midcap fund managers, who for technical reasons cannot buy right now. I think it’s more on the discretionary side, maybe Indian Hotels Company, INOX Leisure, Westlife Development and one of my old favourite stock, which I would continue to buy is Bata India,” Arora said.

On equity markets, he said that there is a large pool of liquidity that is keeping markets from falling. Arora also said that there is no reason to sell in a market that is flushed with liquidity.