This may not be a tall task, as it implies a compounded annual return of 12.47 per cent over the next four years. The Sensex has delivered compounded annual returns of 12.3 per cent and 12.2 per cent in the past 5 and 10 years, respectively.
Wood believes India remains the best structural story across world markets. "With the structural story still intact, GREED & fear continues to take the view that it will only be a matter of time before the Sensex reaches the 100,000 level, a target of fascination to India's delightfully noisy financial media. This target, on a five-year view, now assumes trend 15 per cent earnings per share (EPS) growth and that a five-year average one-year forward price-earnings (PE) multiple of 19.8x is maintained," Wood wrote in his weekly note to investors, GREED & fear.
This story is from the May 27, 2023 edition of Business Standard.
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This story is from the May 27, 2023 edition of Business Standard.
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