Industry Newsemerging marketsequitiesearnings growthjulius baer
India Markets Deliver Earnings-Led Steady Growth
7.0
Mark Matthews of Julius Baer told ET Now that Indian equity markets will likely be subdued but constructive, forecasting 16–18% earnings growth by fiscal year 2027. He expects returns to come from earnings rather than a valuation rerating, highlights opportunities in cyclicals such as NBFCs, energy and materials, and sees India as a diversification destination amid US AI-driven concentration risks.
Key Points
- 1Forecast 16–18% earnings growth for FY27, forming the basis for high-teens return expectations.
- 2Highlight India's lack of AI hyperscalers as a potential diversification advantage versus US tech concentration.
- 3Recommend targeting cyclicals—NBFCs, energy and materials—for earnings-driven returns rather than valuation expansion.
Scoring Rationale
Credible strategist outlook and industry-wide implications boost impact, but limited novelty and partial technical relevance lower it.
Sources
Public references used for this report.
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