NSE IPO, Bata revival and Nykaa growth: Gaurang Shah's market playbook

Analyst Gaurang Shah remains positive on Bata India citing fresh leadership and government measures against cheap footwear imports, but advises investors to wait for a correction before buying Nykaa despite its AI-driven FY30 vision. He identifies defence, asset management and power as preferred sectors, with top picks being Bharat Electronics, Nippon Life India Asset Management and Torrent Power, citing insulation from global shocks. He also termed the proposed NSE IPO as one of the biggest developments for India's capital markets and expects capital market ecosystem players to benefit from 12-15% annual equity market growth.