New Delhi, October 14 (IANS). Market benchmark Nifty may reach the level of 28,781 points in about 12 months. The Indian economy and stock market remain in a strong position despite global challenges like US tariffs, H-1B visa fee hike and geopolitical instability, according to a report on Tuesday.
PL Capital estimates a compound annual growth rate of 12.1 per cent for Nifty from FY2025 to FY2027, with domestic sectors like banks, auto and metals playing a key role in driving growth.
The brokerage said conditions now remain favorable for a strong recovery in consumption with a normal monsoon, 100 basis points cut in interest rates, GST rate cut and tax cuts announced in the FY26 budget.
The brokerage says that cement, metal, oil and gas are the sectors that will play a leading role in the earnings of FY 2026.
The report said India’s GDP growth in Q1FY26 confirmed the strength of the economy, exceeding expectations at 7.8 percent, compared to 6.5 percent in Q1FY25 and 7.4 percent in Q4FY25.
High-frequency indicators such as GST collections, e-way bills, services exports and credit growth indicate strong underlying domestic demand.
PL Capital estimated that the recovery in demand is likely to increase private sector capacity utilization and private capital expenditure, which were stalled for a long time.
The firm said India’s services exports are entering a new growth phase led by digitally delivered, high-value knowledge services.
“By 2030, the country is projected to have around 2,200 Global Capability Centers (GCCs), which will generate revenues of over $100 billion and total service exports are expected to reach $500 billion,” the firm said.
It further said that the talent landscape is rapidly evolving and demand is increasing in areas such as AI, Cyber Security, GenAI Product Engineering and Sustainability Analytics, strengthening India’s position as a global innovation hub.
–IANS
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