Nomura expects the consolidated earnings for Nifty companies to rise 51% over FY18-20, largely driven by low base of financials. Global research house Nomura sees a limited upside for the markets from here on. Their recent India Strategy report co-authored by Saion Mukherjee, Neelotpal Sahu and Sanjay Kadam, pegs the Nifty50 target at 11,380 levels by December 2018.
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