Reuters Market Eye - Nomura raises BSE Sensex target to 30,310 by end of August 2015.The target implies a 17 percent gain from Tuesday's BSE closing level.
"The cyclical pick-up in growth is being ignored by the market obsessed with bold policy and reform moves by the new government," Nomura says.
Separately, UBS maintained its 12-month target of 8,000 on the Nifty saying concerns about government inaction are misplaced.
"We believe investors will be willing to give a premium for growth potential, especially as cyclical economic recovery starts manifesting in data points," UBS said.
Reporting by Abhishek Vishnoi