Bernstein Revamps India Portfolio With Adani Ports, Paytm Picks

Bernstein has set aggressive price targets across its updated India equity model, positioning Adani Ports and Special Economic Zone at Rs 1,973, Eternal Materials at Rs 350, and Paytm parent One97 Communications at Rs 2,200 per share. The revisions come as the brokerage rebalances its 13-stock India portfolio to reflect evolving market conditions and company fundamentals across the subcontinent's largest economy.

The three stocks have been added to or maintained in Bernstein's model portfolio as the brokerage sees significant upside potential from current levels. These selections underscore confidence in port infrastructure plays, materials companies, and digital payments exposure as India's economy continues its expansion trajectory.

The portfolio refresh also marks a strategic shift in the brokerage's approach to Indian equities, with some positions being reduced or eliminated. The move reflects changing valuations and outlook for different sectors as markets reassess growth prospects across consumer, infrastructure, and financial services segments.

Bernstein's updated targets suggest the brokerage sees meaningful appreciation potential in its selected picks, reflecting broader optimism about India's medium-term growth narrative despite recent market volatility and macroeconomic headwinds affecting investor sentiment across the region.