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Bernstein adds Adani Ports, Eternal and Paytm to India portfolio
Bernstein kept its Nifty 50 target at 26,000 and assigned new target prices of ₹1,973 for Adani Ports, ₹350 for Eternal, and ₹2,200 for Paytm.
LiveMint Markets reports that Bernstein reshuffled its India model portfolio, adding Adani Ports, Eternal, and Paytm, while removing Avenue Supermarts, or DMart.
The brokerage said the changes reflect its view of India’s “distortion economy,” where policy interventions, government transfers, subsidies, and liquidity increasingly shape growth and corporate performance.
Bernstein retained its Nifty 50 target at 26,000 and highlighted potential beneficiaries across areas including logistics, quick commerce, financials, and policy-supported industries.
In the portfolio update, Bernstein set target prices of ₹1,973 for Adani Ports based on a healthy balance sheet and pricing power, ₹350 for Eternal on expectations of easing quick commerce competition and improving EBITDA and order values, and ₹2,200 for Paytm, citing a possible rollout of a UPI merchant discount rate, or MDR, as a margin catalyst.