Despite near-term weakness persisting in equity markets in India due to stretched valuations, the bullish trend will reassert itself as corporate earnings recover, argues Goldman Sachs.
Sunil Koul and team at Goldman Sachs in their July 3, 2015 “India Weekly Kickstart” report offer a NIFTY 12-month target of 9400.
GS stay OW India
Striking a positive note, Koul and team at Goldman Sachs continue to believe the strategic case for India is one of the most positive in the region, considering ongoing progress in various reforms.
However, keeping in mind the near-term slow progress and soft 2014 earnings, the GS analysts have trimmed their 2015E EPS growth forecast to 11% from 13% and pegged a 12-month NIFTY index target of 9400, down from...
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