Latest news with #VinitBolinjkar
Mint
2 days ago
- Business
- Mint
Bull Case Forecast: Sensex may hit 1,15,836 and Nifty 43,876 by FY28, says Ventura
Indian equity market is likely to deliver strong gains over the next few years, with the benchmark indices potentially rising 42 percent by fiscal 2028, according to Ventura Securities. Despite a turbulent global economic backdrop, the brokerage sees India's strong GDP growth, manageable debt levels, and relatively stable bond yields as key drivers positioning the country ahead of global peers. In its latest forecast, Ventura Securities said that the Sensex could reach 1,15,836 and the Nifty 50 could climb to 43,876 by FY28 in a bullish scenario. These projections are supported by a compound annual earnings per share (EPS) growth rate of 12–14 percent and macroeconomic stability. Even in a more conservative or bearish environment, the brokerage sees solid upside. It estimates the Sensex could still rise to 104,804 points and the Nifty 50 to 39,697. The forecast is underpinned by a price-to-earnings (PE) multiple of 21 times in the bull case and 19 times in the bear case, with estimated FY28 EPS at 5,516 for the Sensex and 2,089 for the Nifty. According to Ventura, India's unique macroeconomic combination — relatively high growth, moderate debt, and benign interest rates — gives it an edge over advanced economies like the US and Japan. 'India's large growth market is likely to outpace its global peers supported by a unique combination of strong GDP growth, moderate debt levels, and comparatively benign bond yields,' the brokerage noted. Ventura's bullish outlook is also shaped by encouraging Q1FY26 earnings season trends. As of mid-quarter, 159 companies have declared their results, with broad-based growth across sectors. Engineering, manufacturing, and services led the charge, while consumption, commodities, and pharmaceuticals delivered steady performances. Sectors such as BFSI, IT, healthcare, and logistics have delivered positive earnings surprises. This, Ventura said, highlights the resilience of Indian corporate earnings and reinforces confidence in long-term fundamentals. 'India remains the world's most promising investment destination,' the brokerage added, citing GDP growth at 6.5 percent, a debt-to-GDP ratio around 80%, and stable bond yields. While developed markets face headwinds such as high debt and sluggish growth, India's demographic dividend and structural economic reforms continue to attract global capital. Vinit Bolinjkar, Head of Research at Ventura Securities, said the past decade has proven India's resilience despite multiple crises. 'In the last 10 years, the Indian economy has demonstrated resilience and clocked the highest GDP growth among large economies, despite global headwinds such as the NBFC crisis, COVID-19, Russia–Ukraine war, and the recent uncertainty on Trump tariffs,' he said. According to Bolinjkar, India's ability to mitigate risks will outweigh existing challenges and help push GDP growth to an estimated 7.3 percent by FY30. Strategic measures like the discovery of oil in the Andaman region, the gold monetization scheme, and a multi-pronged national security strategy are expected to add further strength to India's macroeconomic fundamentals. Ventura believes that the Indian equity market has not yet priced in the long-term structural advantages the country offers. Factors such as rising foreign exchange reserves, sustainable debt levels, and the possibility of lower interest rates could create a highly favorable investment landscape in the coming years. In this context, the Sensex's journey to 115,000 and beyond looks achievable — provided the current momentum in earnings and reforms continues. For investors looking beyond short-term volatility, India stands out as a resilient and rewarding long-term bet. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
4 days ago
- Business
- Time of India
Sensex set to hit 115,836 by FY28 on earnings momentum: Ventura
Sensex could surge to 115,836 by fiscal 2028 in a bullish scenario, supported by steady earnings growth and macroeconomic resilience, according to Ventura Securities . The brokerage forecasted the Nifty 50 climbing to 43,876 over the same period, with a projected FY28 earnings per share (EPS) compound annual growth rate of 12-14%. Ventura valued the Indian benchmarks at a price-to-earnings (PE) multiple of 21 times under a bull case and 19 times under a bear case. The brokerage pegged Sensex EPS at 5,516 and Nifty 50 EPS at 2,089 by FY28. In its bear case projection, Ventura expects Sensex to touch 104,804 and Nifty 50 to reach 39,697. Explore courses from Top Institutes in Please select course: Select a Course Category CXO Data Science Degree Digital Marketing Project Management Design Thinking Product Management MBA Management Finance Public Policy Others Data Science Leadership others Operations Management Data Analytics Cybersecurity Skills you'll gain: Digital Strategy Development Expertise Emerging Technologies & Digital Trends Data-driven Decision Making Leadership in the Digital Age Duration: 40 Weeks Indian School of Business ISB Chief Digital Officer Starts on Jun 30, 2024 Get Details Skills you'll gain: Technology Strategy & Innovation Emerging Technologies & Digital Transformation Leadership in Technology Management Cybersecurity & Risk Management Duration: 24 Weeks Indian School of Business ISB Chief Technology Officer Starts on Jun 28, 2024 Get Details Skills you'll gain: Customer-Centricity & Brand Strategy Product Marketing, Distribution, & Analytics Digital Strategies & Innovation Skills Leadership Insights & AI Integration Expertise Duration: 10 Months IIM Kozhikode IIMK Chief Marketing and Growth Officer Starts on Apr 7, 2024 Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Learn The Most Successful Intraday Strategy in Just 2 Hr. thefutureuniversity Learn More Undo Sectoral strength drives Q1 momentum As of mid-Q1FY26, 159 companies have reported results showing broad-based growth. Engineering, manufacturing and services sectors led the gains, while consumption, commodities and pharma delivered steady performances. Positive earnings surprises in BFSI, IT, healthcare and logistics point to a resilient corporate earnings season. India remains the 'world's most promising investment destination,' Ventura said, citing GDP growth of 6.5%, moderate debt levels with an 80% debt-to-GDP ratio, and stable bond yields. The brokerage noted that while advanced economies like the U.S. and Japan grapple with high debt and slowing growth, India's demographic advantage and structural reforms make it a magnet for global capital. 'In the last 10 years, Indian economy has demonstrated resilience and clocked highest GDP growth as a large economy despite global headwinds of NBFC crisis, Covid 19, Russia-Ukraine war and the recent uncertainty on Trump tariff,' said Vinit Bolinjkar, head of research at Ventura. 'The risk mitigation influencers will outweigh the current challenges which will usher Indian GDP growth to 7.3% by FY30(E).' Live Events Long-term fundamentals and risks Ventura highlighted India's ability to withstand past economic shocks, from demonetization and GST rollout to the NBFC crisis and the COVID-19 pandemic. Strategic developments such as the Andaman oil discovery, gold monetization initiatives and a multipronged national security strategy are expected to bolster India's long-term fundamentals. While challenges persist, Ventura said it believes the market has yet to fully price in these structural shifts. Growing forex reserves, sustainable debt levels and the potential for lower long-term interest rates point to a more favourable investment environment in the years ahead. Also read | Reliance Power shares down 15% in a month as ED probe drags. Can the stock reclaim Rs 70 amid volatility?
Hans India
4 days ago
- Business
- Hans India
Sensex projected to touch 115,836, Nifty to surpass 43,800 by FY28: Report
Mumbai: In a bull case scenario, Sensex is projected to reach 115,836 and Nifty is likely touch 43,876 by the financial year 2028 (FY28), a report said on Friday. However, in a bear case scenario, Sensex is projected to reach 1,04,804 and Nifty at 39,697 by FY28, Ventura, a stock broking platform, said in its recent projection. Nifty is expected to oscillate within a well-defined price-to-earnings (PE) band in these three years, with projected robust earnings growth with estimated FY28 earnings per share compound annual growth rate (EPS CAGR) of 12-14 per cent. 'In the last 10 years, the Indian economy has demonstrated resilience and clocked the highest GDP growth as a large economy despite global headwinds of NBFC crisis, Covid 19, Russia-Ukraine war and the recent uncertainty on US President Donald Trump tariff," said Vinit Bolinjkar, Head of Research, Ventura. The risk mitigation influencers will outweigh the current challenges, which will usher Indian GDP growth to 7.3 per cent by FY30(E), he added. By FY28, the Indian index will be at a PE level of 21 times in the bull case and 19 times in the bear case with an estimated earnings-per-share (EPS) of 5,516 for Sensex and 2,089 for Nifty 50, the report stated. Over the past ten years, India has demonstrated extraordinary resilience by navigating a series of unprecedented disruptions without compromising its growth trajectory. From the "Fragile Five" designation to demonetisation, GST implementation, a crippling NBFC crisis, and the dual shock of COVID-19 waves, India has withstood and adapted to adversity, the report highlighted. According to the report, even global headwinds like the Russia-Ukraine war and Trump-era tariffs have failed to derail its momentum, underlining the robustness of the Indian economy. As of the mid-season point for Q1 FY26 earnings, 159 companies have reported Q1 FY26 results, revealing broad-based strength across key sectors. Engineering/manufacturing and services sectors have led the pack, while consumption, commodities, and pharma show steady performance, the report stated.
Mint
07-07-2025
- Business
- Mint
Anil Ambani-owned stocks: Reliance Power, Reliance Infrastructure shares surge up to 125% in one year. More steam left?
Anil Ambani group stocks: The turnaround in Anil Dhirubhai Ambani group (ADAG) stocks — Reliance Power and Reliance Infrastructure — was not just limited to companies' financials but rubbed off on shareholders' wealth. From the brink of bankruptcy, both ADAG stocks have rebounded to profitability, helped by effective debt reduction and favourable sectoral dynamics. Reliance Power cleared ₹ 3,872 crore in obligations as a guarantor for Vidarbha Industries Power Ltd, eliminating most of the related debts and corporate guarantees. Meanwhile, Reliance Infrastructure significantly reduced its standalone external debt from ₹ 3,831 crore to ₹ 475 crore. Reliance Power share price has surged 125% from ₹ 29 to above ₹ 65 levels. Meanwhile, Reliance Infrastructure shares have not been far behind, recording an 87% jump in its value. The sharp rally in ADAG stocks has significantly boosted investor wealth. Vinit Bolinjkar Head of Research - Ventura, said Reliance Power's operating portfolio, totaling 5,305 MW, includes the 3,960 MW Sasan Power Ltd, the world's largest integrated coal-based power plant. The company is also accepting EPC orders for joint development of renewable energy projects, contributing to its improving financial performance. The same is reflected in the company's financials. For the last quarter of FY25, Reliance Power had swung to the black, posting a profit of ₹ 126 crore, as against a loss of ₹ 397.56 crore in Q4 FY24. Total income dipped to ₹ 2,066 crore in the fourth quarter from ₹ 2,193.85 crore in the same period a year ago. "With a strong outlook for the power sector and a fresh start following restructuring, investor confidence is on the rise," Boljinkar said. Anubhav Sangal, Sr. Research Analyst at Bonanza, said that Reliance Infra is seeing green shoots in revival through successful restructuring and debt reduction as well as bagging robust opportunities with the recent Dassault collaboration in the helm. These measures according to experts have fortified Reliance Infra's balance sheet, setting a solid foundation for future growth. "Beyond its power distribution operations in Delhi, the company is expanding into defence manufacturing infrastructure, including the Mumbai Metro project. A recent JV with the US-based Coastal Mechanics for MRO services in India, along with export orders from global defence companies, could drive enhanced future performance," according to Boljinkar. The company is also targeting ₹ 3,000 crore from the export of 155 mm ammunition and aggregates by the end of the financial year 2027, as per a PTI report. As per PTI sources, Reliance has been able to make inroads in the highly competitive markets of the European Union and South East Asia. Recently, Reliance Defence also announced a strategic partnership with Düsseldorf-based Rheinmetall AG. The collaboration between the companies will include the supply of explosives and propellants for medium and large calibre ammunition to Rheinmetall by Reliance. Reliance Infrastructure also posted a financial turnaround, reporting a net profit of ₹ 4,387 crore in the March quarter, mainly aided by a reduction in expenses. It had posted a net loss of ₹ 220.58 crore in the January-March period of 2023-24. Analysts remain largely positive on these ADAG stocks, expecting the trend to sustain, albeit the pace could slow down. "Both companies are entering a new chapter following their restructuring efforts, and their growth prospects are backed by strong industry trends and their deep expertise in their respective sectors, making this rally sustainable," said Boljinkar. Commenting on individual stocks, Sangal said we could still see space left for the valuation to go upwards for Reliance Power shares, however, at a slower pace than we saw earlier. For Reliance Infra, the analyst said, "We believe that Reliance Infrastructure is poised to see meaningful revenue visibility through current orders and potential future orders that will take reliance infra towards a meaningful value unlocking."
Mint
05-07-2025
- Business
- Mint
HDB Financial shares see strong action in listing week. Is it still a stock to buy?
HDB Financial share price: In a strong listing week action, HDB Financial share prices have offered the investors who bet on its initial public offering (IPO) with solid 14% returns in just three sessions. HDB Financial's share price had listed at a premium of 12.8% at ₹ 835 on both the BSE and NSE and extended gains to settle at over 13% gains above the IPO price of ₹ 740. While the stock gained on Thursday and took a breather on Friday, it managed to deliver over 14% gains during this period. HDB Financial shares' high stands at 891.65 while its low is at ₹ 827.50, which is still at a premium to the issue price. On the listing day itself, July 2, Emkay Global released an initiation coverage report on the HDFC Bank subsidiary, with a 'Buy' rating and a target price of ₹ 900 per share for June 2026. This signals another 7% upside in HDB Financial share price from current levels. Vinit Boljinkar, Head of Research at Ventura Securities, also believes the momentum in HDB Financial Services stock could continue to thrive in the long term. He lists three compelling factors that could sustain interest in HDB Financial shares: 1. Market Position: HDBFS is the fourth largest retail-focused NBFC in India, serving a robust retail customer base of 1.9 crore. 2. Strong Loan Growth: The company has demonstrated healthy loan book growth with a two-year CAGR of 23.5%, and with 73% of its loans secured. It has a lower risk profile compared to peers like Bajaj Finance, which stands at 60%. This secured loan base enhances its stability in the long run. 3. Parentage: As a subsidiary of HDFC Bank, HDBFS enjoys strong brand recognition, an extensive distribution network, and low-cost funding, which positions it for continued growth and profitability. Brokerage Emkay Global also suggests three strong fundamental factors behind its bullish stance, ranging from its diversified operations (geographically and produce-wise); its strategy to focus on direct sourcing (~82% of FY25 disbursements), remote areas (70% branches are in tier 4 towns and beyond), and low-to-mid-income groups; and a favourable interest rate cycle amid frontloaded repo rate cuts, making HDB Financial well positioned to improve profits and growth. Commenting on the strategy for retail investors regarding HDB Financial shares, Vinit Bolinjkar recommended a 'HOLD' strategy for long-term gains. Strong retail market position, production diversification and valuation advantage are some of the factors behind his view. At an FY25 P/B of 3.2x, HDB Financial shares trade at a lower multiple compared to Bajaj Finance (5.85x), offering a potential valuation gap for investors to capitalise on. From the NBFC space, his top picks remain Bajaj Finance and HDB Financial based on growth potential, low NPAs, and strong backing. However, for risk-averse investors, Cholamandalam and Shriram Finance may be attractive due to their lower valuations, he added. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
