HomeNewsTrendsAdvertisingGoldman ups Nifty target to 6900; bullish on midcap infra

Goldman ups Nifty target to 6900; bullish on midcap infra

Timothy Moe of Goldman Sachs in his note this morning said, "We are Modi-fying our view on India and believe it's appropriate to raise our investment stance, recognizing the equity market has risen sharply from 3Q lows".

November 07, 2013 / 10:16 IST
     
     
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    Goldman Sachs upgraded its India rating to equal-weight from earlier underweight citing improving macro and micro cues. The investment banking firm also raised its Nifty target to 6900. The stock market has cheered Narendra Modi's appointment as BJP's prime ministerial candidate given Modi's pro-business record as chief minister of Gujarat.


    Timothy Moe of Goldman Sachs in his note this morning said, "We are Modi-fying our view on India and believe it's appropriate to raise our investment stance, recognizing the equity market has risen sharply from 3Q lows".


    The favoured sector bets for Goldman Sachs continue to be technology, healthcare and energy


    Goldman's top picks include HCL Tech, Tech Mahindra, RIL, BPCL, Coal India, Yes Bank, IndusInd Bank and select cement and auto stocks.


    At Goldman Sachs also finds some of the midcap infra stocks like Adani Port, Adani Power, NHPC, Grasim Ind and Container Corp of India attractive at current valuations.

    (Posted by Nimesh Shah)

    first published: Nov 5, 2013 09:25 am

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