Nomura India has kept its March 2026 Nifty target unchanged at 26,140 but reshuffled its top stock picks. The international brokerage house has highlighted a distinc focus on domestic consumption driven sectors along with pharmaceuticals while trimming exposure to metals and capital goods. The Nifty target implies only a small upside of around 4% from current levels, reflecting the brokerage’s view that valuations are already rich and earnings growth will stay moderate in the near term.

At the stock level, Nomura has added Swiggy , Titan , Prestige Estates Projects and Alkem Laboratories to its preferred list, while removing Jindal Steel and Power, BPCL and Lodha Developers . It also swapped Ather Energy for TVS Motor, and Lodha for Brigade Enterprises, citing better upside pote

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