Nifty likely to hit 15,000 by December 2021, says JP Morgan
JP Morgan said the Indian economy does not appear strong enough to drive upgrades on already lofty earnings forecasts. "The Indian economy has recovered rapidly so far, but consumer confidence and incomes/wages remain poor. Monetary policy is already as accommodative as it likely will be; a large fiscal impulse seems doubtful," said JP Morgan. "Headline GDP numbers will look strong on a low base, but activity may not be strong enough to drive broad earnings upgrades," said JP Morgan.
Markets managed to end marginally in the green amid consolidation bias. The benchmark opened on a positive note, tracking supportive global cues and also in reaction to better than expected IIP data: Reuters