Anand Rathi Wealth joint CEO Feroze Azeez expects India’s Nifty Bank to outperform the Nifty 50, citing bank valuations and possible foreign inflows, NDTV Profit reported.
NDTV Profit’s article says Azeez put the probability above 90% over a three-year period. Its interview-video description instead gives a three-to-five-year horizon. The article also provides conflicting estimates of the annual lead: 35 percentage points in its summary and 3 to 5 percentage points in the main text. The discrepancy leaves the expected margin unresolved.
Azeez’s case also rests on bank valuations, NDTV Profit reported. It said he viewed several unnamed lenders as unusually inexpensive against their historical price-to-earnings and price-to-book readings. The outlet placed the gap at one to two standard deviations but did not identify the banks, specify the comparison period or explain the calculation method.
The National Stock Exchange of India says Nifty Bank tracks large, liquid banking companies and weights them by free-float market capitalization. Its February 2026 factsheet lists up to 14 constituents. Azeez’s call compares the banking sector with the broader Nifty 50; it concerns relative performance, not whether either index will rise.
NDTV Profit also reported that Azeez expected foreign flows to turn positive in November, partly because of MSCI’s index review. He said the full month’s figures would be needed to assess the market rally. The Times of India reported net buying of slightly more than ₹73,200 crore across eight November trading sessions, citing NSDL and BSE data. That figure covers Indian equities broadly and does not show how much went to banks.
MSCI’s schedule set Nov. 11 for the review announcement and the Nov. 30 market close for the changes to take effect.
