Nomura ups Sensex target to 30,310 by Aug-2015 end

Reuters Market Eye - Nomura raises BSE Sensex target to 30,310 by end of August 2015.The target implies a 17 percent gain from Tuesday's BSE closing level.

"The cyclical pick-up in growth is being ignored by the market obsessed with bold policy and reform moves by the new government," Nomura says.

The report highlights Axis Bank , ICICI Bank , State Bank of India , GAIL India , Coal India , Tata Motors among top picks.

Separately, UBS maintained its 12-month target of 8,000 on the Nifty saying concerns about government inaction are misplaced.

"We believe investors will be willing to give a premium for growth potential, especially as cyclical economic recovery starts manifesting in data points," UBS said.

(Reporting by Abhishek Vishnoi)