Home / Business and Economy / Nifty Eyes 29,094: 18 Stocks Poised for Growth
Nifty Eyes 29,094: 18 Stocks Poised for Growth
26 Nov
Summary
- Nifty projected to reach 29,094 within 12 months.
- Financials, consumer, defense, and ports are key growth sectors.
- Brokerage recommends 18 stocks across large, mid, and small caps.
Prabhudas Lilladher (PL) anticipates an 11% growth for the Nifty, projecting a target of 29,094 within the next 12 months. This bullish outlook is supported by anticipated economic momentum, spurred by income tax rate reductions, GST rationalization, and improved tax collections. The brokerage identifies financials, consumer, defense, and ports as the primary sectors poised for significant growth.
PL's strategy involves recommending a total of 18 stocks, with a preference for large-cap companies. Out of these, 11 are large-cap picks, while the remaining 7 are from the mid and small-cap segments. This investment strategy is underpinned by positive corporate performance, with sales, EBIDTA, and PAT growth observed, alongside expectations of a domestic demand revival during the festive season.
Several factors are expected to fuel the next leg of the rally, including income tax rate cuts benefiting a majority of taxpayers, an anticipated 100 basis points Reserve Bank of India (RBI) rate cut, normal monsoons boosting rural incomes, a 12-year low inflation rate, and continued GST rate rationalization. The brokerage also notes potential upside from an 8th pay commission implementation.
