Sustained recovery in India corporate earnings still few quarters away, says HSBC

GAIL (India)

11/06/2025 10:11

** Sustained recovery in earnings growth for corporate India is "still a few quarters away", says HSBC Global Research

** Growth in IT services .NIFTYIT could be weak amid policy uncertainties in the US; domestic rate cuts do not bode well for local banks' margins .NSEBANK

** Urban consumption remains weak, private capex yet to see a pick-up - note

** Brokerage says local stocks .NSEI well placed amid global trade turmoil but concerns on growth, elevated valuations remain

** "We are neutral on India from the Asian perspective with the 2025-end target of 82,240 for the Sensex .BSESN - HSBC

** The benchmark is currently trading at 82,500

** Lists Godrej Consumer Products GOCP.NS, UPL UPLL.NS, GAIL GAIL.NS, Ujjivan Small Finance Bank UJJI.NS, and HDFC Life Insurance HDFL.NS as "top picks"

** GOCP, GAIL, and HDFL up 0.8%, 1.4%, and 0.3%, respectively, while UPLL down 1% and UJJI down 3.3%

 (Reporting by Vijay Malkar)

 ((VijayDattaram.Malkar@thomsonreuters.com;))