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Goldman sachs upgrades Indian equities, sees Nifty at 6,100

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Goldman sachs upgrades Indian equities, sees Nifty at 6,100
Goldman sachs has upgraded Indian equities to 'marketweight' from 'underweight' in its latest Asia-Pacific quarterly outlook report and also has set 6,100 target for the Nifty by March 2013.

Goldman expects that slowing core inflation will allow RBI to cut the repo rate by 150 basis points in 2012-13.

 

Goldman sachs believe the global factors that have weighed heavily on India over the past year (ie. European credit concerns) have largely abated and the domestic growth cycle may re-accelerate heading into the second half of the calendar year. The global investment bank also beleives that the uncertainty risk around the Uttar Pradesh elections and the Union Budget for FY2013 are now behind.

Further, we see upside to consensus earnings per share (EPS) growth estimates for 2013 and we find valuations relatively attractive in India, certainly more so than they’ve been since the global financial crisis,” their report says.

Goldman sachs main concerns are oil prices and its economic impact on india.

GoodReturns.in

Read more about: goldman sachs equity nse
Story first published: Saturday, March 24, 2012, 13:37 [IST]
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