Emkay Global Financial Services expects crude oil to stabilise at $75–80 within two months and sees the Nifty 50 hitting 29,000 by March 2027. A potential Iran–US peace deal, easing energy pressures and steady earnings growth are seen driving a rebound in Indian equities despite near-term macro headwinds.

NEW DELHI: India has slashed excise duties on petrol and diesel to protect consumers and rein in a potential spike in inflation, while imposing windfall taxes on aviation fuel and diesel exports, amid volatile global oil markets as a result of the Iran war. Economists said the tax cuts will hit government finances. Global oil prices have surged past $100 per barrel after the near closure of the Strait of Hormuz , which serves as a conduit for 40% of India’s crude oil imports, since the US and Israel first struck Iran on February 28 . In a government order released late on Thursday, India’s finance ministry reduced the special excise duty on petrol to 3 rupees ($0.0318) per litre from 13 rupees earlier. It also cut the duty on diesel to zero from 10 rupees per litre. The government did not say how much the duty cuts would cost. The move comes ahead of elections next month in four Indian states and one federal territory with Indian voters known to be extremely sensitive to higher prices.

There is a sense of disappointment among many common investors following the sharp decline in the Indian equity market since the outbreak of hostilities between Iran and US since Feb 28. But a report by Emkay Global has mentioned that the valuations appear to be reasonable now and in line with global peers.

ET Intelligence Group: Shares of BlueStone Jewellery and Lifestyle have gained 15% over the past month, defying the weakness in the broader market that has dragged down the benchmark indices by nearly 9%. Analysts expect operating leverage and annual additions of 65-70 stores could drive margin growth through FY27-28. The company's pan-India store count increased to 323 as of December 2025 from 275 at the end of March 2025; over half of these stores now generate ₹10-14 crore in annual revenue each, reflecting improving store maturity. This is crucial as it improves operating leverage since the store-level costs stay largely fixed even as revenue scales. This was visible in the operating margin before depreciation and amortisation (Ebitda margin), which rose sharply to 22% in the December 2025 quarter from 8.5% in the year-ago quarter. The company's revenue increased by 34% year-on-year to ₹1,754 crore in nine months to December 2025 while net loss contracted to ₹18 crore from ₹170.6 crore.

Synopsis: Emkay Global is bullish on Kalpataru, citing strong pre-sales growth, robust pipeline, improving cash flows, debt reduction, and stable annuity income, supporting long-term growth visibility and valuation. This Small-Cap Realty Stock, engaged in real estate development, focusing on residential and commercial projects across Mumbai, MMR, and Pune, delivering quality housing and infrastructure solutions, jumped […] The post Kalpataru: Can its project portfolio and strong pre-sales growth drive future expansion? appeared first on Trade Brains .

The signs of de-escalation in the US-Iran war is seen as a strong positive for India and analysts say OMCs, private banks, NBFCs, and autos are the best ways to play the stock market recovery. Emkay Global sees this as the bottom for the markets and maintains December 2026 Nifty 50 target of 29,000.

New Delhi, March 24 : A smart recovery is likely in Indian markets as the crude overhang wanes and price‑earnings (P/E) premiums contract, a report said on Tuesday. Emkay Global Financial Services, in its report, projected the Indian rupee to bounce back toward Rs 91 per US dollar and the 10‑year government bond yield to ease to about 6.65 per cent from 6.83 per cent currently, with normalisation taking two to three months. "The Nifty fell 5 per cent in the last three trading sessions, primarily owing to sustained FPI selling. We expect this trend to reverse, and India could emerge as one of the better investment opportunities in the region," the report said. However, a Brent average of $80 per barrel in FY27 would trim India’s GDP growth to 6.6 per cent and raise inflation and the current account deficit to 4.3 per cent and to 1.7 per cent of GDP, respectively. A more adverse terms-of-trade shock, with Brent above $100 per barrel, could push CAD/GDP beyond 2.5 per cent and produce a balance‑of‑payments deficit of about $85 billion.

A report by Emkay Global Financial Services forecasts recovery in Indian markets as oil pressures ease. The Nifty 50 may stabilise, with rupee strengthening and bond yields softening, though higher crude prices could impact growth, inflation and fiscal balance

Indian shares climbed on Friday, helping limit steep weekly losses, as investors sought bargains following a sharp selloff triggered by concerns over the Iran war and a decline in heavyweight HDFC Bank. The Nifty 50 rose 0.49% to 23,114.50 and the BSE Sensex gained 0.44% to 74,532.96, on Friday. The rupee breached the 93 per dollar mark for the first time to an all-time low against the U.S. dollar on Friday. The Nifty and Sensex fell 3.3% each on Thursday, their worst session since June 4, 2024. However, they ended the week down only 0.16% and 0.04%, helped by value buying earlier and a partial rebound on Friday. Brent crude traded at $111 a barrel on Friday after leading European nations and Japan offered to join efforts to secure safe passage for ships through the Strait of Hormuz. It rose to $119.13 a barrel in the previous session. “Investors remain wary of tensions in the Middle East, as even an immediate end to the war would leave energy supplies taking months to normalise,” said Vivek Shukla, regional head at Emkay Global Financial Services. “Still, the recent correction is beginning to draw value buyers, with more attractive valuations and entry points cushioning the markets from steep losses, as seen this week,” Shukla said.