PL Capital sets Nifty base target at 27,958; Adani Ports, HAL, L&T, Tata Steel, M&M among top picks

The base case assumes the Nifty index with a 12-month target of 27,958. In a bullish scenario, a 20x multiple implies upside toward 30,497, while a conservative bear case suggests 26,486. Equity markets appear poised for their next leg of expansion after nine months of tight consolidation, with the Nifty trading in a narrow 5–6 per cent band amid global uncertainties and earnings recalibrations. According to PL Capital's latest India Strategy report, the index has weathered a 9–9.5 per cent moderation in FY ...