Prabhudas Lilladher cuts Nifty target to 27,381, suggests buying on dips for long-term gains

November 28, 2024

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.

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