Prabhudas Lilladher has given a one-year target of 27,867 for Nifty at its 15-year average PE of 19.1x. The brokerage firm has conviction on stocks like BEML, Cyient, and HDFC AMC among others. The market has shifted in favor of defensive sectors like FMCG, IT Services, Pharma, and Consumer Durables.
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