Tuesday, 8 May 2018

Macquarie Sees Nifty At 11,500 By Dec-End, Bullish On 5 Sectors

Posted by suhani varma on Tuesday, May 08, 2018 with No comments

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Inderjeet Singh Bhatia, Head of Research at Macquarie Capital, sees limited upside for the Nifty from current levels but maintains its year-end target of 11,500.

He cites global as well as negative headwinds such as rising crude oil prices, geopolitical risks and rising inflation as some of the factors which could cap upside for the Indian markets in 2018.

Speaking on ICICI Bank’s disappointing Q4 FY18 earnings and road ahead for the counter, Bhatia told CNBC-TV18 there could be some more pain left for the private sector lender for a couple of quarters. However, he was quick to add that its long-term outlook remains intact.


Macquarie has maintained its outperform rating on ICICI Bank post its Q4 result with a target price of Rs 416 per share, an upside of 43 percent from its Monday’s close of Rs 289 per share. It is also one of Macquarie’s top pick.

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