Stock market crash: Amid the current stock market correction, domestic brokerage Prabhudas Lilladher has cut domestic equity benchmark Nifty 50’s year-end target to 27,381 amid the current stock market correction. According to analysts, Indian markets are on course but headwinds are yet to peak out.
“The firm has cut its base case NIFTY target to 27,381 (27,867 earlier) on Nifty EPS cut by 0.5/2.0/1.5 for FY25/26/27 and recommends selective buying on dips for long-term gains,” said the domestic brokerage in its report
According to the report, demand conditions remain mixed with steady uptick in rural demand given low base and normal monsoons. However, rising inflation is affecting demand in urban India (yet to play out fully), more so in metros and big cities, which account for ~35 per cent of the total demand in the economy. All hopes now rest on the demand surge in festival and wedding season.
