Citigroup Equity Research Team in a note said,
We expect 2015 to be a decent year: raise Dec 2015 market targets, Sensex 33,000 (+16%), Nifty (9,850), at 16x Dec16E. 2015 should be front-loaded with falling rate gains, back-loaded with an actual economic/investment recovery; and accompanied by steady regulatory/execution reform. A seamless transition; falling rates to a rising economy/earnings could fire the market more. More likely, a post rate and pre-economic deliverance, stall.
