English
Specials
    Go Ad-Free
    My Alerts
    Moneycontrol
    Moneycontrol PRO
    Loans
    HomeNewsBusinessStocksCiti sees Sensex at 28,800; lists 5 largecaps, midcaps to buy

    Citi sees Sensex at 28,800; lists 5 largecaps, midcaps to buy

    Earnings upgrade cycle is key to sustaining valuations that otherwise look slightly stretched at 17-18 times forward earnings, says the Citi note

    July 15, 2016 / 17:13 IST
     
     
    live
    • bselive
    • nselive
    Volume
    Todays L/H
    More

    Moneycontrol BureauBrokerage house Citi says it remains “constructive” on the market with a Sensex target of 28,800.It expects an aggregate Sensex earnings growth of around 13 percent for the current financial year.“Earnings upgrade cycle is key to sustaining valuations that otherwise look slightly stretched at 17-18 times forward earnings. Also, relatively the market looks ok – considering growth/RoE expectations vs other EMs,” says the Citi note.Among large caps, Citi is bullish on Axis Bank, Aurobindo Pharma, HDFC Bank, M&M and Ultratech. In the midcap space, its top bets are Apollo Hospital, Container Corporation, Emami, Exide, and Gujarat State Petronet.

    first published: Jul 15, 2016 09:23 am

    Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347