A stock bull expects Nifty at 12,300 by June but NBFC crisis tests his faith
- Gautam Chhaochharia of UBS group expects the Nifty 50 stock index to climb about 10% to 12,300 by June on the premise that reforms including tax cut will aid valuations
- The worries about the banking system and slowing economic growth will recede over the next few months, he said
Stock bulls betting on a second rally from India’s landmark corporate tax cut are having their faith tested by a shadow banking crisis.
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