HindustanTimes Sun,21 Sep 2014

Nomura raises Sensex target to 30,310 by end of August 2015

Reuters   August 13, 2014
First Published: 13:30 IST(13/8/2014) | Last Updated: 13:38 IST(13/8/2014)

Nomura has raised BSE Sensex target to 30,310 by end of August 2015. The target implies a 17% gain from Tuesday's Bombay Stock Exchange (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 said.

The report highlighted Axis Bank, ICICI Bank, State Bank of India, GAIL India, Coal India and Tata Motors among top picks.

Separately, UBS maintained its 12-month target of 8,000 on the NSE index, 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.

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