Infosys, Bhel, Arvind: Antique lists top gainers from India-US trade deal

Foreign portfolio flows are set to return to Indian shores following the trade deal between India and the United States (US), suggest analysts at Antique Stock Broking. They expect the Nifty to hit 29,500 levels by March 2027 in this backdrop, a gain of around 15 per cent from the current levels.

 

Among stocks, Infosys, Wipro, Raymond, Arvind Ltd, Adani Ports, Bhel, Cummins India, LG Electronics, UPL, Cipla, Dr Reddy's, ICICI Bank, HDFC Bank and KPR Mill are some of the stocks Antique believes will be the key beneficiaries of the India - US trade deal.

 

"We believe that this development is significantly positive for Indian equities as: a) FPI equity flow may reverse (key overhang for the markets for last 15 months); and b) Support nominal GDP growth by 50–80 basis points (bps) and result in rupee appreciation. Accordingly, our March 2027 Nifty 50 target stands at 29,500 based on 20x FY28 EPS)," Pankaj Chhaochharia and Dhirendra Tiwari of Antique Stock Broking wrote in a recent note.

 

 

Their key overweight sectors are financials, capital goods, defence, and consumer discretionary. 

 

On Monday, US President Donald Trump announced a trade deal with India, as per which the US will levy only a reduced reciprocal tariff from earlier 50 per cent to 18 per cent (now marginally lower than other Asian peers. In turn India, reports suggest, will reduce its tariffs and non-tariff barriers to zero. India has also committed to stop buying Russian oil and increase energy purchases from US and Venezuela, reports suggest.

 

The India-US trade deal, Antique believes, is significantly positive for Indian equities as FPI equity outflow of $34 billion since October 2024, the highest among emerging markets (EMs), may reverse as the US accounts for around 41 per cent of FPI AUC and valuation premium relative to other EMs and DMs are near the long-term average. CLICK HERE FOR THE GRAHPIC

 

"Accordingly, sectors that may benefit are the ones with high FPI holding like real estate, telecom, transportation, financial services, healthcare; and those where FPI overweight / uderweight is the weakest since September 2018 like capital goods, financial services, IT services, and power utilities," Chhaochharia and Tiwari said.