Goldman Sachs maintains 'marketweight' on India; HDFC Bank, Adani Ports, Godrej Consumer among picks

Apollo Hospitals Enterprise

26/03/2025 05:32

Adds chart, no changes to text

** Goldman Sachs maintains "marketweight" stance on India, equivalent to "neutral", suggesting the worst may be over for economic growth and earnings

** Identifies 10 stocks with an average 23% upside, including HDFC Bank HDBK.NS, AU Small Finance Bank AUFI.NS, M&M MAHM.NS, IndiGo INGL.NS, Power Grid PGRD.NS, Apollo Hospitals APLH.NS, Adani Ports APSE.NS, Titan TITN.NS, and Godrej Consumer GOCP.NS

** MakeMyTrip MMYT.O, which trades on the Wall Street, is also on the list

** Brokerage attributes positive catalysts and healthy earnings momentum for its picks

** In the small-cap, mid-cap segments, Goldman expects near-term volatility due to high domestic positioning and U.S. tariff uncertainty

** India's benchmark Nifty 50 .NSEI has erased year-to-date losses, and is now 10% below its September 2024 record high

** However, smallcaps .NIFSMCP100 are down 18.3% from December peak and midcaps .NIFMDCP100 are down 15% from September highs

Goldman Sachs' top ideas in Indian markets https://reut.rs/4l4cEfc

 (Reporting by Bharath Rajeswaran in Bengaluru)

 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))