Emkay Global increases the September 2025 Nifty 50 targets to 26,000 and includes ITC and Delhivery in the model portfolio

The Indian stock market Nifty 50 targets surged through a difficult first half of the year 2025, with the Nifty returning over thirteen percent since March 31, 2024. With a generous desired PER of 22x, broking company Emkay Global increased its Nifty 50 targets objective from 22,000 for June 2025 to 26,000 for September of the same year.

As both of the benchmark indexes reached all-time highs on Monday, the Indian stock market started September on an unprecedented high note. The Nifty 50 targets the 25,300 barrier for the first time, and the Sensex reached a new high over the 82,700 level.

The Nifty 50 targets came back more than 13% since March 31, 2024, as the equities market has roared through a challenging H1FY25. With a generous goal PER of 22x, broking company Emkay Global Financial Services has increased its Nifty 50 objective from 22,000 for June 2025 to 26,000 for September 2025.

We predict a range-bound, rapidly shifting sector for the overall market. Low interest rates and a potential rebound in mass and rural spending are the main themes for a more calm second half of FY25, according to Emkay Global Financial Services Head of Research and Strategy Seshadri Sen.

September’s US Federal Reserve monetary policy decrease looks imminent, and by December, the bond market is already pricing in a 100 basis point increase. The Reserve Bank of India (RBI), based on Emkay Global, would probably follow suit, with a front-ending expected in October or December. A shift in the liquidity posture ought to coincide with this.

“We think it won’t have much of an effect on aggregate demand or the real economy in general.” Sen stated in a strategy study that “autos, real estate, or NBFCs benefit at the margin, while IT benefits from the US optimism.”

He thinks a rebound in system deposit growth will be sparked by the shift in the monetary policy cycle. Nonetheless, the analysts observe a delayed impact on cost of funds in addition to front-ended earnings margin (NIM) pressures as repo-linked mortgages value downward.

The sector’s difficulties would certainly worsen when lending practices are subject to increased control and there is a decline in inflation. Sen stated, “We continue to be underweight in financials because we think lenders have not sufficiently discounted their debt to reflect the new realities of slower growth.

Goal Nifty PER was increased by Emkay Global from 19x to approximately 22x (+1sd), and goal index was increased from 22,000 to 26,000. It expects a protracted period of sideways action and limited the upward possibility of the Nifty to 4%.

Though specific groups appear extremely frothy, the broking business believes that the emphasis will be on producing ideas in SMIDs, where nonetheless finds pockets of value.

Nifty 50 targets PER was increased by Emkay Global from 19x to approximately 22x (+1sd), and goal index was increased from 22,000 to 26,000. It expects a protracted period of sideways action and limited the upward possibility of the Nifty 50 targets to 4%.

Though specific groups appear extremely frothy, the broking business believes that its concentration will be on producing suggestions in SMIDs, where it nonetheless finds pockets of value.

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