Bulls in the Bearish Storm: Goldman's Jaw-Dropping India Investment Call

Goldman Sachs' Hiren Dasani interprets the latest market correction as a best-suited time to create medium and long-term portfolios in India. In spite of near-term concern from poor growth in earnings and valuations at current levels, Goldman expects Nifty50 reaching 27,000 in the next 12 months. Housing, agriculture, defence, tourism, and the wealthy consumer categories are Goldman's areas of concern in terms of being growth drivers. The investment bank projects 12%, 13%, and 16% return on earnings growth for MSCI India in 2024, 2025, and 2026. Dasani observes that the valuations of India are generally premia-driven as a result of structurally more robust and less erratic growth versus regional comparators.

 

Source: Moneycontrol