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Nifty at 25K: Markets rise gets earnings power
Over the last five years, Nifty's growth paralleled earnings, with a 152% rise in market capitalization and a 126% increase in profits. The market value grew 20% annually between FY19 and FY24, while earnings rose by 18%. Analysts predict 13-15% earnings growth in FY25, which current valuations have already discounted.