Stanley has upgraded its June 2015 target for the Sensex to
28800 after the recent rally, says managing director, Ridham Desai. However,
that’s his conservative estimate. Desai expects the Sensex to rally as high as
33900, but with some conditions: if the government continues to work on it
fiscal consolidation path and the Fed doesn’t take any disruptive policy
action. If these two conditions are met, then Desai says, the Sensex has about
40 percent chance of seeing this level by June 2015.
360-degree turnaround in sentiment regarding India, apart
from institutional flows has led to this market rally. And a lot of it has to
be credited to the government, believes Desai. “People abroad have faith in the
potency and execution of the new govt. They are sending the right signals. The
Goldilock-like scenario that is unfolding, both on the macros as well as the
micros, will change for sure, but we are fairly comfortable for the next three
years atleast ,” says Desai.
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