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Home  » Business » Good news! Deutsche Bank sets 29,000 Sensex target for Dec 2016

Good news! Deutsche Bank sets 29,000 Sensex target for Dec 2016

By BS Reporter
December 04, 2015 09:30 IST
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The Bull

 

Deutsche Bank has set a target of 29,000 for the Sensex, for December 2016, a 12 per cent upside from the current level. “. . .widespread investor optimism on the policy and macro environment -- following the record election verdict and the sharp decline in global commodity prices -- has been replaced by a more conservative realism on earnings recovery emerging as the most determining market catalyst.,” said Deutsche Bank analysts Abhay Laijawala and Abhishek Saraf.

The brokerage said it expected corporate earnings to turn around in 2016, benefitting from an urban consumption recovery, a positive multiplier impact of government’s push.

Its picks include companies such as Bharat Petroleum Corporation, Sun Pharma, Lupin, NTPC and State Bank of India in the large-cap category.

These picks are on the back of urban consumption, public spending and banking reforms.

It mid-cap category, it favours Federal Bank, Cummins, Concor and JSW Energy, among others. Deutsche Bank has pegged Sensex earnings per share growth at 18 per cent for FY17.

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BS Reporter in Mumbai
Source: source
 

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