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Nomura ups Sensex target to 30,310 by Aug-2015 end
August 13, 2014 / 5:03 AM / in 3 years

Nomura ups Sensex target to 30,310 by Aug-2015 end

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.

A man looks at a screen across the road displaying the election results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai May 16, 2014. REUTERS/Danish Siddiqui/Files

“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.

The report highlights Axis Bank (AXBK.NS), ICICI Bank (ICBK.NS), State Bank of India (SBI.NS), GAIL India (GAIL.NS), Coal India (COAL.NS), Tata Motors (TAMO.NS) among top picks.

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

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