Goldman Sachs sets Nifty targets of 24,000 for 3 months, 27,000 for 12 months

Goldman Sachs has outlined its people for India's benchmark Nifty index, projecting 24,000 successful the adjacent 3 months and 27,000 for the adjacent 12 months. Despite a coagulated structural outlook for India, the brokerage steadfast has adopted a “tactically neutral” stance connected Indian equities wrong its 2025 Asia and emerging marketplace allocations.

Range-bound marketplace expected successful abbreviated term

Goldman Sachs anticipates that the Indian marketplace volition stay range-bound implicit the adjacent 3 months, with the imaginable for a betterment aboriginal arsenic maturation accelerates. The steadfast cited concerns implicit slowing growth, precocious valuations, and a little favourable home and outer situation arsenic reasons for its cautious approach. While the medium-term lawsuit for India remains positive, Goldman sees risks of further derating successful Indian equities, particularly fixed the precocious starting valuations. As of Thursday’s close, the Nifty stood astatine 23,349.90, and Goldman’s 12-month people of 27,000 implies a 15.6% upside from this level.

Valuation concerns and recommended stocks

Goldman Sachs noted that India's existent price-to-earnings (P/E) ratio for MSCI India is 23 times, good supra its 10-year mean and supra the 'fair value' estimation of 21 times. This highlights the hazard of further marketplace corrections contempt caller drops.

In its lawsuit note, Goldman Sachs highlighted 16 stocks with bargain ratings that person corrected implicit 20% from their caller highs and are present considered to beryllium trading astatine tenable valuations. These include:

• InterGlobe Aviation
• Trent Limited
• Cholamandalam Investment
• Shriram Finance
• Havells India
• IndusInd Bank
• Aurobindo Pharma
• AU Small Finance Bank
• L&T Finance
• Star Health & Allied Insurance
• Phoenix Mills
• Crompton Greaves Consumer
• Kajaria Ceramics
• CreditAccess Grameen
• Emami
• CE Info Systems (MapmyIndia)

Goldman Sachs’ cautious outlook reflects its appraisal of the broader economical environment, suggesting that investors enactment vigilant portion looking for opportunities successful oversold stocks.