Nomura projects sustained growth for India despite market fluctuations
2 reports, 2 independent
Updated Sep 1
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What happened
Nomura projects that India's economy is on track for 7.3% annual growth this year, provided external risks do not materially derail the outlook. This forecast is tempered by factors such as rising oil prices and disruptions to energy transit routes. In market activity on September 17, benchmark indices were trading around 23250, with the IT index down 0.5% while auto and PSU Bank indices were up 1% each.
Why it matters
The outlook suggests that the economy is entering a period of greater uncertainty but with considerable policy flexibility due to the Reserve Bank of India’s foreign reserve build-up. Nomura also reaffirmed its 'buy' rating on Lupin, targeting a price of ₹2,675/share.