Mumbai-based investment firm OmniScience Capital has forecasted that the Nifty 50 index could reach between 28,000 and 31,000 by the end of FY27. This projection suggests a potential upside of 15 to 25 percent from current levels.
The firm estimates that the earnings per share for the Nifty 50 could be ₹1,280 to ₹1,320 in FY27, supported by price-to-earnings multiples ranging from 22 to 24. The anticipated growth is attributed to earnings growth of 10 to 13 percent for FY27, alongside several potential catalysts for market re-rating, including a reduction in geopolitical tensions, declining crude oil prices, a strengthening rupee, and a more favorable inflation outlook.
Vikas V. Gupta, CEO and Chief Investment Strategist at OmniScience Capital, stated that the market is “significantly undervalued,” asserting that even moderate earnings growth could yield substantial returns for long-term investors prepared to handle market volatility.
In terms of sector positioning, OmniScience Capital expressed an overweight stance on banking, financial services, and power sectors. The firm observed that banks are currently exhibiting their strongest performance in a decade, with gross non-performing assets under 2.5 percent, capital adequacy around 17 percent, and provision coverage close to 76.6 percent. Moreover, the power sector is entering a phase of structural growth, spurred by renewables and a capital expenditure opportunity projected at ₹65 to 70 trillion through 2035.
Conversely, the firm maintained a cautious outlook on the IT sector, citing an uncertain outlook in the near- to medium-term due to potential disruptions from AI and a downturn in global technology spending, despite current valuations appearing attractive over the long term.
Regarding market valuations, OmniScience Capital noted that the Nifty currently trades at approximately 20 times earnings and three times book value—levels that are at or below historical averages. This situation, it argued, could support above-average return potential based on historical performance. The Nifty 50 has historically delivered around 14.26 percent compounded annual growth rate (CAGR), inclusive of dividends, over the past 25 years.
Published on April 22, 2026.
