Goldman Sachs upgrades Indian stocks, raises Nifty target

Goldman Sachs has upgraded Indian equities to 'overweight' on hopes of a rebound in corporate earnings. The American investment bank has raised its Nifty target to 14,100 by end-2021, implying an 11% upside from the current levels. Notably, Goldman had downgraded India to 'marketweight' in April expecting a significant contraction in economic activity and a delayed recovery.