Goldman's 12-month target of 27,000 on the Nifty implies an upside of 15.6% over Thursday's closing price of 23,349.90. The index fell 168.60 points or 0.7%. Goldman said the risk of derating in Indian equities remains even after the recent drop as valuations are still high. The estimated price to earnings ratio for MSCI India is at 23 times, above its 10-year mean and above its 'fair value' estimate of 21 times.
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Bitcoin has more than doubled in value this year and is up about 40% in the two weeks since Trump was voted in as the next US president and a slew of pro-crypto lawmakers were elected to Congress.
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On March 17, 2024, the conglomerate's corporate finance head had sent correspondence to a financial institution, with Sagar Adani in copy, stating that media coverage of the investigation by US prosecutors was "baseless," "malicious" and "defamatory," according to the indictment papers.
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