InCred raises Nifty target by 4% even as earnings cuts persist; Adds Axis Bank, UPL to high conviction stocks list

InCred raises Nifty target by 4% to 24,280, citing easing oil prices and favorable rainfall outlook.

Cautious outlook remains due to earnings downgrades, especially in IT, banking, and consumer sectors.

Axis Bank and UPL added to high-conviction list; construction sector upgraded to neutral.

Macro risks include weak auto/housing sales, geopolitical tensions, and oil volatility, with GDP forecast cut to 6.5%.