Nomura raises Sensex target to 30,310 by end of August 2015

Last Updated: Wed, Aug 13, 2014 11:07 hrs

Nomura raises BSE Sensex target to 30,310 by end of August 2015.

Target implies a 17 percent gain from Tuesday's BSE closing level.

"The cyclical pick-up in growth is being ignored by the market obsessed with bold policy and reform moves by the new government," Nomura says.

Highlights Axis Bank , ICICI Bank , State Bank of India , GAIL India , Coal India , Tata Motors among top picks.

Separately, UBS maintains its 12-month target of 8,000 on the NSE index <.NSEI> saying concerns about government inaction are misplaced.

"We believe investors will be willing to give a premium for growth potential, especially as cyclical economic recovery starts manifesting in data points," UBS said.

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