India all set to rank among the fastest-growing economies until 2030, says Goldman Sachs
New Delhi/IBNS: India is on track to be one of the fastest-growing economies in the medium term, according to a recent report by international brokerage firm Goldman Sachs.
After experiencing a decade-long downturn, India's corporate earnings have stabilized in recent years, with profit growth in the mid-teens expected to continue through 2030, the report noted.
Over the past five years, the Nifty index has recorded an 18 percent compound annual growth rate (CAGR) in both total earnings and market capitalization.
As the economic landscape shifts, Goldman Sachs predicts that sectors tied to investment cyclicals, such as automobiles, real estate, chemicals, and industrials, will see a significant increase in their profit shares.
Consumer cyclical sectors are expected to witness the highest overall growth, as per the report.
Additionally, growth leadership could shift toward power and renewable energy industries.
The brokerage has given a 'buy' recommendation on 20 key stocks, including companies like Reliance Industries (RIL), Larsen & Toubro (L&T), NTPC, Mahindra & Mahindra (M&M), UltraTech Cement, Power Grid, Adani Ports, IndiGo, Eicher Motors, Havells, Polycab, Ashok Leyland, Phoenix Mills, Uno Minda, Hitachi Energy, Astral, Embassy REIT, Kajaria Ceramics, Blue Dart, and Amber Enterprises.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
Tamil Nadu: Vijay’s party blames DMK ‘conspiracy’ for Karur stampede, seeks probe by SIT or CBI
India clinch Asia Cup title with five-wicket win over Pakistan
PM Modi urges Indians to go 'Vocal for Local' in festival shopping
Pakistan’s mineral show-and-tell: Sharif and Munir try to charm Trump
