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Brokerage house InCred Equities sees FY24 Nifty target at 21,103 and maintains an ‘overweight’ stance. Meanwhile, it recommends booking profits after a 20.8 percent return from the Nifty Infrastructure index in the last six months.
Manish Jain, Fund Manager, Coffee Can PMS, Ambit Asset Management, believes that the Indian market can double in the next 5 years. Don't get swayed by near-term momentum and always aim for long-term wealth creation by investing in quality businesses, Jain advised investors.
Neeraj Chadawar, Head Quantitative Equity Research at Axis Securities, tells BT that robust balance sheets and improvement in asset quality coupled with credit growth, higher profitability will drive the BSFI sector
India Inc's revenue growth in Q2 has been the weakest in nine quarters, rising by 6.2%, according to a sample of 3,901 companies. Net profit on the other hand rose by 39%, the highest in six quarters, helped by easing input costs. The banking, financial services, and insurance (BFSI) sector supported aggregate earnings. Excluding banking and finance firms, revenue and net profit growth slowed to 2.3% and 33.6% respectively.
In Q1 FY24, of the 21 sectors under Motilal's coverage, 7/8/6 sectors reported profits above/in line/below its estimates. Of the 231 companies under the brokerage firm coverage, 84 exceeded profit estimates, 87 posted a miss, and 60 were in line