Aditya Birla Capital in its ‘Market Volatility = Opportunity’ report has predicted that Nifty will be at 50000 by 2030.
According to the report, the recent pullback presents an attractive buying opportunity.
The “structural LT bull market is INTACT driven by high single digit growth in economy and mid teen earnings growth,” the report said.
While looking at the big picture, it also expects Nifty to touch 50,000 by 2030 along with a CAGR return of 17%.
While there is no bubble in large cap stocks, the report added that the pain is concentrated in small & SME stocks.
Additionally, it suggested that investors should be very selective while choosing small cap stocks as they might not yet be out of the woods.
As a cautionary suggestion, the report also asked investors to steer clear of “overpriced” new age stocks with no earnings visibility.
The report suggested that there is a buying opportunity in private sector banks, wealth platforms, hospitality, healthcare as well as the industrial sectors.
Sectors including IT, Energy (EPC and module manufacturers), pharma industry and materials are risky for investors at present.
