Nomura raises BSE Sensex target to 30,310 pts, says market ignoring growth

Aug 13 2014, 12:11 IST
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"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. (Photo: Reuters)
SummaryNomura's BSE Sensex target implies a 17 percent gain from Tuesday's close.
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Nomura raises BSE Sensex index target to 30,310 by end of August 2015. 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.

Highlights Axis Bank, ICICI Bank, State Bank of India, GAIL India, Coal India , Tata Motors among top picks.

Separately, UBS maintains 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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