MARKET EYE-Macquarie says Indian 'elephant' to turn 'tiger'; ups Sensex target

Wed Jan 16, 2013 2:32pm IST

Related Topics

Stocks

   

* Macquarie says Indian 'elephant' to turn 'tiger' in 2013; ups 
BSE index target to 22,200 versus 21,600 earlier and
NSE target to 6,900 points as against 6,600 previously.
* Investment bank expects reforms push would take India to 8 pct
per annum growth over the next three years, improving to 6.7
percent in FY14 from 5.6 percent projected in FY13.
* Corporate earnings growth may surprise on upside around 16-17
percent as street not factoring in improvement in EBITDA margins
with neither falling core inflation nor reduction in interest
costs getting built in, the note says.
* Cyclical sectors are even cheaper and are at 10-year low as
compared to defensives, it says.  
* Adds Axis Bank, State Bank of India and
property developer DLF to its top 10 ideas, replacing
ICICI Bank Dr.Reddy's Laboratories and HDFC
Bank.

 (manoj.dharra@thomsonreuters.com;
manoj.dharra.thomsonreuters.com@reuters.net)
FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Pricing Controls

REUTERS SHOWCASE

India-China Relations

India-China Relations

India says to defend China border after standoff ahead of Xi visit.  Full Article 

Importing Iron Ore

Importing Iron Ore

As mining curbs bite, India offers market to glut-hit iron ore.  Full Article 

Lower Output

Lower Output

IOC cuts refinery output as rains hit fuel demand - source.  Full Article 

Drug Approval

Drug Approval

Epirus, Ranbaxy win India approval for arthritis drug copy.  Full Article 

Farming and Technology

Farming and Technology

Climate smart farmers get tech savvy to save India's bread basket.  Full Article 

Rajan Speaks

Rajan Speaks

RBI chief Rajan says limiting reliance on foreign debt.  Full Article 

India-Vietnam Ties

India-Vietnam Ties

India tightens Vietnam defence, oil ties ahead of China Xi's visit.  Full Article 

Debt & Equity Deal

Debt & Equity Deal

KKR to lend $175 million to GMR Infrastructure - source.  Full Article 

Preparing for IPO

Preparing for IPO

Alibaba boosts IPO as demand strengthens.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage