Citi retains year-end 26,000 target for India's Nifty on improving growth, earnings outlook

Citi Research maintains its Nifty 50 target of 26,000 for end 2025, citing a stable economy, reasonable valuations after a 13% fall from record highs

Target implies about 14% upside from current levels

Brokerage expects Nifty earnings growth to rebound to teen percentage levels in fiscal year 2026 from mid-single-digit growth in FY25 and India's GDP to stay at ~6.5%

Government capex, tax cuts, and RBI rate easing to boost earnings and growth, says Citi