Earnings Revival and Policy Stability to Power Markets in Samvat 2082: PL Capital Report

#MuhuratAagaya — Markets Gear Up for a New Phase of Growth

Mumbai | October 15

As the festive lights glow brighter and the muhurat bell rings in a new trading year, India’s stock market story looks more exciting than ever! According to the PL Capital India Strategy Report, Samvat 2082 could mark the beginning of a strong earnings-led bull phase, powered by policy stability, domestic demand, and resilient investor flows.

“India’s equity market is entering Samvat 2082 on solid ground. With inflation under control, earnings recovery visible, and sentiment turning constructive, this year’s rally will be driven by profitability — not just liquidity,” says Amnish Aggarwal, Head of Research, PL Capital.

PL Capital projects Nifty earnings growth of 12% CAGR over FY25–27, with profits set to accelerate from Q3 FY26 and stay strong into FY27. The brokerage values the Nifty at 28,781, based on 19.2x FY27 EPS of ₹1,415, while introducing FY28 EPS at ₹1,582, signalling sustained strength in India’s corporate earnings cycle.

India’s Growth Story: Domestic Flows Lead the Charge

Despite global jitters and foreign selling, India’s market resilience remains unmatched. In the past year alone, SIPs have channelled over ₹2.5 lakh crore into equities — cushioning the impact of ₹85,000 crore in FII outflows.

Behind this strength lies India’s unbeatable domestic engine — robust credit expansion, manufacturing revival, urban consumption, and a rural recovery that’s just beginning to show up in data. Inflation is comfortably within range, GDP is projected at 6.8% for FY26, and the RBI is expected to shift towards a pro-growth stance as rate cuts globally set the tone for easing.

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PL Capital notes that with normal monsoons, GST 2.0 rollout, 8th Pay Commission, and continued public capex, India’s consumption and earnings momentum will likely accelerate sharply in FY27.

“India is where growth and stability are walking hand in hand. Investors who stay disciplined, diversified, and data-driven this Samvat will be the real winners,” Aggarwal adds.

Sector Spotlight: Banking, Autos, and Defence Take the Wheel

PL Capital maintains a constructive yet selective stance — staying overweight on: Banks & NBFCs for strong credit growth, Autos for cyclical recovery and rural demand, Defence, Capital Goods & Metals for industrial upturn, and Consumer Discretionary for urban consumption revival.

Preferred large-cap picks include ICICI Bank, SBI, M&M, L&T, HAL, ITC, and Tata Steel, while mid-cap ideas feature Amber Enterprises, KEI Industries, DOMS Industries, Eris Lifesciences, and Latent View Analytics. PL Capital expects broader market participation in Samvat 2082, with mid- and small-caps gradually regaining momentum as valuations normalise and earnings catch up.

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Outlook: A Muhurat Made for Momentum

With earnings revival, policy continuity, and domestic liquidity all aligning, Samvat 2082 could well be the start of a long-term uptrend in India’s equity markets. Technically, PL Capital sees Nifty’s upside at 26,300–27,000, with strong support near 24,000, implying limited downside for patient investors.

So as you light that diya and prepare for muhurat trading, remember — #MuhuratAagaya, and so has the next phase of India’s market story. From corporate earnings to economic confidence, everything points towards a profit-packed Samvat 2082.

Invest Smart, Invest Early

Kickstart your festive investing journey with PL Capital — where research meets opportunity. Open your Demat Account in minutes, access PL’s expert research, PMS, and wealth strategies, and ride India’s growth wave confidently into Samvat 2082.

Visit Prabhudas Lilladher Private Limited to know more and make your first move this Muhurat!