October 2, 2025
Nifty 14100 Goldman Sachs
Goldman Sachs, the leading foreign brokerage which wields strong influence amongst FIIs and HNI investors, is very bullish about Indian stocks. It has recommended the best stocks which will propel the Nifty to 14100 by the end of 2021
Goldman Sachs, the leading foreign brokerage which wields strong influence amongst FIIs and HNI investors, is very bullish about Indian stocks. It has recommended the best stocks which will propel the Nifty to 14100 by the end of 2021




From Downgrade of 9,600 to Upgrade of 14,100

In April 2020, the Babus at Goldman Sachs committed the buffoonery of downgrading the Nifty and condemning it to a basement level of 9,600.

We lower our Nifty (end-June 2020) target to 9,600 (prior 10,800) on lower earnings expectations and a target multiple of 15.5x,” the Babus had said in a grim tone.

Obviously, in the light of the Nifty surging like a rocket to the present All-Time-High of 12800+, some of the Babus may have been given marching orders by the top brass for making such baseless doomsday projections.

So, the new incumbents have gone the other extreme and upgraded the target for the Nifty to 14,100.

Our Asia strategy team upgraded India to ‘overweight’ and revised its Nifty target to 14,100 by end-2021,” the global investment bank has said in a terse manner.

Choice of stocks appears to be flawless

Anyway, whatever may be the quality of the predictions, we cannot fault the Babus of Goldman Sachs for their choice of stocks.

The choice appears to be flawless. Eight stocks, which includes fail-safe powerhouses like RIL and HDFC Bank, have been given the green signal.

  • HDFC Bank: Potential upside of 1% and bull case upside: 21%
  • State Bank of India: Potential upside of 30% and bull case upside of 42%
  • Larsen & Toubro: Potential upside of 16%
  • Reliance Industries: Potential upside of 12%
  • TVS Motor: Potential upside of 29%
  • Avenue Supermarts: Potential upside of 15%
  • Fortis Healthcare: Potential upside of 18%
  • Apollo Hospitals: Potential upside of 9%

Goldman Sachs Nifty 14100 Stocks
(Click for larger image)



Nomura also upgrades Nifty to target price of 13640

Nomura, also an influential foreign brokerage, is also impressed by the giant strides taken by the Indian economy under the able leadership of NAMO and Nirmala Sitharaman.

It has upgraded the Nifty to the level of 13,640.

Market valuation supported by lower cost of capital; we set Dec 2021 Nifty target at 13,640 (+7% implied upside from current level),” the distinguished brokerage has said.

We think capital flows resulting from improved risk sentiment will drive stocks in the near term. Improvement in sentiment around the pandemic and improving high-frequency growth indicators and corporate earnings as the economy opens up could lead to market overlooking potential growth concerns that can emerge over time,” it added.

It is stated that the model portfolio is overweight Banks and NBFC stocks.

In our model portfolio, we raise the weight on financials, as we expect their valuations could expand on expectation of improving growth rates,” it said.

The Banks and NBFCs recommended are ICICI, Axis Bank, SBIN and MAX Financials.

However, unfortunately, the weight of the InfoTech and Pharma sector has been reduced.

Presumably, this is due to valuation concerns.

The top picks recommended in the Model Portfolio are ICICI Bank, Axis Bank, HCL Tech, M&M and SUN Pharma.





The Nifty will achieve all upward targets if you give it time

Anil Singhvi, the charismatic editor of ZEE Business, was not much impressed by the hullabaloo created due to the upgrades by the foreign brokerages.

Upar ke aap koi bhi levels soch lein, aankh bandh kar ke, voh milega,” he said.

He rightly pointed out that stocks always go up and so it is frivolous to set targets on them.

The Sensex has surged from 100 a few decades ago to the present 43000+ without waiting for anyone’s targets, he reminded.

Ultimately, Upar ke levels predict karna aasaan kaam hai. Aap ko yeh pata lagana hota hai ke samay kitna lagega,” he explained.

He advised that we should keep buying top-quality stocks at every available opportunity without being deterred or influenced by so-called ‘downgrades’ or ‘upgrades’.

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