‘Indian equities to benefit from macro backdrop, Nifty EPS to grow 18% in FY24’

India’s financial market assets are expected to benefit structurally from a favourable macroeconomic backdrop over the next few years. India’s corporate profit cycle remains the strongest since the 2004-08 cycle. The benchmark Nifty index EPS grew at an average 20 per cent between FY 2021 and FY2023 and is expected to grow by a further 18.7 per cent and 16.6 per cent in FY 2024 and 2025 respectively, according to a report by Standard Chartered.