Domestic brokerage firm InCred Equities has raised its bull-case probability from 20% to 25%, upgrading the target price for Nifty to 25,683. InCred also came out with a list of 19 high-conviction stock ideas, including HDFC Bank, M&M Finance.“Factoring in favourable macroeconomic tailwinds led to an upgrade in our blended Nifty-50 target to 25,683 (from 24,084 earlier). The preference for largecaps remains. We have added defensive stocks to our high-conviction ideas list and removed policy-risk stocks in the defence sector,” said a report by InCred Equities.The March 2024 quarter results were marginally above expectations. FY25F-26F Bloomberg consensus Nifty-50 PAT CAGR of 12% is…
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