The domestic brokerage values the Nifty at its 15-year average P/E ratio of 19.1x, using a September 2026 EPS estimate of 1,434, to derive a 12-month target of 27,381 (revised from 27,867). In a bullish scenario, the Nifty is valued at a P/E of 20.1x, resulting in a revised bull case target of 28,750, down from the earlier 29,260.
IPO Calendar: Primary market cools after Jio frenzy, but 13 listings lined up
India’s IPO market is set for a quiet week, with just one fresh issue worth Rs 56.68 crore opening for subscription and no mainboard launches.