Goldman Sachs expects India's profit pool is likely to shift towards investment cyclicals, as it expects mid-teen profit growth momentum to sustain towards 2030. Reliance Industries Ltd, Larsen & Toubro Ltd (L&T), Power Grid Corporation of India Ltd, NTPC Ltd, Adani Ports & SEZ and Eicher Motors Ltd are reportedly among 20 stocks that Goldman Sachs has buy ratings on. Others included Havells India, Polycab, Ashok Leyland, Mahindra & Mahindra Ltd, Phoenix Mills, Uno Minda and Blue Dart Ltd.
In its India strategy note, Goldman Sachs reportedly said that India's earnings growth has stabilised in recent years, after a decade-long downcycle and that it is likely to be among the fastest growing economies in the medium term. UltraTech Cement Ltd, InterGlobal Aviation Ltd, Hitachi Energy Ltd, Astral, Embassy REIT, Kajaria Ceramics and Amber Enterprises are other stocks with 'Buy' ratings.
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