Latest news with #NimeshChandan
Time of India
a day ago
- Business
- Time of India
Nifty seen at 26,300 levels in near term: Bajaj Finserv Asset Management
Mumbai: The benchmark Nifty is expected to be around 26,300 levels in the near term, and given that the behavioural indicators are positive, it should move even higher, believes Bajaj Finserv Asset Management . "The markets are often seen as a pendulum that moves between greed and fear," said Nimesh Chandan, CIO, Bajaj Finserv Asset Management. "We estimate the fair value as 26,300 that's where we believe the centre of the pendulum is." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Philippines: Affordable Refrigerators for Sale - Check Out the Prices! Refrigerators | Search Ads Search Now Undo The growth rate in FY26 is likely to be better than in FY25, and the earnings growth in Nifty is anticipated to be 12% in FY26 and 15% in FY27. Chandan said that the fiscal policy has become more demand oriented and the monetary policy also helped in terms of infusing liquidity in the market. The asset management company said that after the correction between September and March, pockets in the midcap and smallcap space trading at reasonable valuations despite the recent pullback. Benchmark Nifty is also trading close to its long-term average on a price to earnings basis. "Large-cap valuations are reasonable, the risk reward is favourable, but because of the correction that came in the last few months or calendar year to date, we have seen some sectors, some pockets in mid caps and small caps also correct and that brings us some opportunities," said Chandan. Live Events The outlook for rate sensitives & domestic oriented sectors such as NBFCs, smaller banks, realty, home improvement along with consumption while the asset management company remains cautious in the IT.
Business Recorder
2 days ago
- Business
- Business Recorder
India's equity benchmarks muted as Reliance Industries offsets broader losses
India's benchmark indexes ended flat on Tuesday, as gains in heavyweight Reliance Industries on solar business optimism offset broader sectoral losses, with investors awaiting cues from U.S. trade talks. The Nifty 50 rose 0.1% to 25,541.80 points and the BSE Sensex added 0.11% to 83,697.29. The MSCI Asia ex-Japan index rose 0.5% after Canada dropped its digital services tax on U.S. tech firms—boosting hopes of progress in global trade negotiations. India could finalize an interim trade deal with the U.S. as early as this week, the Financial Times reported, while Reuters said Indian officials are extending their visit to Washington to resolve outstanding issues. 'Indications of resolution of global trade uncertainties is a major positive for domestic markets and adds to the structural positives such as steady earnings, sustained institutional inflows and policy support from the central bank,' said Nimesh Chandan, chief investment officer at Bajaj Finserv Asset Management. However, bouts of profit booking are likely in the near term as some investors lock in gains from the 15% rally in benchmarks over the past four months, potentially capping sharp upside ahead of the U.S. tariff deadline on July 9 and the June-quarter earnings season, three analysts said. India's equity benchmarks ease as financials retreat from record highs Seven of the 13 major sectors declined on the day. The broader small-caps and mid-caps were little changed. Reliance Industries, which is the third highest weighted stock on Nifty, rose 1.9% after Nuvama raised its target price to a Street-high of 1,801 rupees citing improving growth prospects in its new energy segment. Financials inched 0.2% lower, easing for the second session after hitting a record high on Friday. Sigachi Industries lost 5.6%, extending Monday's 12% plunge, after a deadly fire at its Telangana facility killed at least 39 people. Apollo Hospitals rose 3.5% after unveiling plans to hive off its digital health and pharmacy unit.
