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Anuj Bajpai, Founder & CEO, Liquide, believes that with general elections around the corner, the interim Budget may feature measures with mass appeal, such as tax reductions or subsidies. However, any major announcements in the interim Budget seem unlikely, he added. ....
"Our Nifty target of 24,260 is based on 20x Dec 2025F earnings and represents a 12% potential upside from the current level," said analysts at Nomura. ....
Nifty 2024 target. In its base case, Nomura factors in continued disinflation and a fall in yields, a modest growth slowdown globally, benign oil prices and a favourable outcome of the 2024 general elections.
"Nifty is now 20x 1-year forward - higher than the past 10-year average, but relative to EM (ex-China) the premium at 67% is only somewhat higher than the historical average. Also, on a PEG basis, the Indian market appears reasonable," said Jefferies. ....
An ETMarkets poll of 23 analysts from Dalal Street shows that most analysts see Nifty ending at 23,000. In the base scenario, Axis Securities sees Nifty at 23,000 in December 2024 by predicting that earnings will grow at 14% CAGR over FY23-26 ....