New Delhi, Aug. 28 -- PL Capital, in its India Strategy Report titled "Ready for next leg of growth," projects the Nifty to reach 27,609 over the next 12 months. The brokerage argues that multiple tailwinds-lower inflation, normal monsoons, fiscal support, RBI rate-cut transmission, and GST 2.0 reforms-are set to lift domestic consumption beyond the festive season and support earnings.

PL Capital sees the setup for a durable demand upcycle: CPI at 1.6% with food deflation, normal monsoons supporting rural incomes, and a Rs.1,000 bn tax-cut impulse in FY26. Momentum, it says, should strengthen in 2H26 as the RBI's 100 bps of rate cuts transmit, lowering EMIs and stoking demand for housing, automobiles, and personal loans.

Complementing t...