Nifty will double to 48,000 in next 5 years, predicts Raamdeo Agrawal

Raamdeo Agrawal, chairman of Motilal Oswal Financial Services, predicts that the Nifty will double to 48,000 in five years due to retail participation and excess liquidity. He cautions against investing in PSUs and IT stocks and urges caution in banking stocks due to issues with credit demand and deposit growth.