Wed Jan 08 03:46:07 UTC 2025: ## India’s GDP Growth Slowdown Fuels Market Uncertainty; Positive Analyst Ratings Boost Several Stocks

**Mumbai, January 9, 2025** – Indian stock markets are poised for a potentially negative opening following the release of concerning macroeconomic data. The projected GDP growth for Fiscal Year 25 (FY25) stands at 6.4%, a significant drop from the 8.2% recorded in FY24, representing the lowest growth in four years. This figure, while slightly higher than the Reserve Bank of India’s (RBI) estimate of 6.6%, has dampened investor sentiment. The nominal GDP growth is expected to be 9.7%, and GVA growth is anticipated at 6.4%. Sector-wise, agriculture is projected to grow at 3.8%, while mining, manufacturing, and construction sectors are expected to see slower growth compared to the previous fiscal year. The services sector is also forecast to experience a moderate slowdown.

Despite the gloomy macroeconomic outlook, several individual stocks received positive analyst ratings, potentially offering some support to the market. These include:

* **Positive ratings:** ITC (buy, target price ₹500), Bharti Airtel (buy, ₹1940), Kalyan Jewel (buy, ₹810), Zydus Life (outperform, ₹1365), GAIL (buy, ₹235), M&M (buy, ₹4075), Eicher Motors (buy, ₹6600), TVS Motors (buy, ₹3050), Reliance Industries (buy, ₹1690), HDFC Bank (outperform, ₹1900), Dr Reddy’s Lab (buy, ₹1553), DOMS (buy, ₹3210), Bajaj Finance (buy, ₹8900), SBI Life (buy, ₹1880), Gravita (buy, ₹3200), Britannia (buy, ₹6050), Larsen (buy, ₹4400), and Hero Motocorp (buy, ₹4900), Bajaj Auto (buy, ₹10350).

* **Neutral ratings:** Paytm (neutral), Reliance Industries (outperform, ₹1520), and Info edge (buy, ₹8850).

* **Negative rating:** Nuvoco (sell, ₹300).

Several companies announced positive developments, including strong sales figures for Tata Steel, and various partnerships and expansions for companies such as Exicom, RVNL, Maruti, UniHealth Hospitals, SPP Polymer, Power Finance, IKIO Lighting, Ceinsys Tech, WPIL, and NTPC. Additionally, Mazda Ltd. announced a stock split. However, several companies also reported executive changes or other less positive news.

Initial Public Offerings (IPOs) for Capital Infra Trust, Quadrant Future Tek, and Standard Glass Lining saw varying degrees of success, with Standard Glass Lining receiving a particularly strong response.

The Gift Nifty at 23,770 suggests a potentially flat to slightly negative opening for the Nifty index. Analysts at Deven Choksey Research expect strong Q3FY25 earnings for several auto and ancillary companies, with MSIL highlighted as a top pick.

Gold prices remained relatively stable, while US stocks experienced a downturn following positive economic data that raised concerns about the Federal Reserve’s future monetary policy. Zinc futures are showing signs of stabilizing after a recent decline. The article also includes intraday support and resistance levels for several prominent stocks and concludes with a bullish short-term outlook for Navin Fluorine International.

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