Nomura lifts Nifty target price by 1,170 points, unveils 17 top stock picks
In a bullish move that defies earnings downgrades and global jitters, Japanese brokerage giant Nomura has raised its Nifty target by 1,170 points to 26,140, citing favorable valuations and domestic resilience. Alongside, it unveiled 17 high-conviction stock picks, signaling a clear pivot toward domestic-facing sectors.
“Assuming benign risk premium and low yields, we raise the target valuation multiple to 21x (from 19.5x previously)… suggesting potential upside of 6% from current levels,” Nomura said in a note to clients. The firm’s new March 2026 Nifty target is based on 21x FY27 earnings, up from its previous 24,970.
The Nifty currently trades at 20.5x one-year forward earnings, near the top of its three-year range. Yet, Nomura…
