Should I invest in the ICICI Pru Auto ETF NFO?
Answer
Answer
Answer
ICICI Prudential AMC will launch India’s first auto ETF benchmarked to Nifty Auto Index. The NFO will be open from 05-January to 10-January. This ETF will be a proxy for auto sector performance in India. You can buy this ETF betting that microchip shortage problem gets resolved, though it could take longer. If you are really looking to ride the EV story, then buying Tata Motors would be a better choice than trying to buy the entire index via ETF.