Goldman’s 12-month target of 27,000 on the Nifty implies an upside of 15.6% over Thursday’s closing price of 23,349.90. The index fell 168.60 points or 0.7%. Goldman said the risk of derating in Indian equities remains even after the recent drop as valuations are still high. The estimated price to earnings ratio for MSCI India is at 23 times, above its 10-year mean and above its ‘fair value’ estimate of 21 times.
Finance Minister Nirmala Sitharaman gives final touches to her record eighth Budget
Finance Minister Nirmala Sitharaman finalizes the first full Budget of Modi government’s third term, focusing on tax cuts and boosting economic growth. The Budget aims
January 31, 2025