New Delhi, Jan 17: Macquarie says Indian 'elephant' to turn 'tiger' in 2013; ups BSE Sensex target to 22,200 versus 21,600 earlier and Nifty target to 6,900 points as against 6,600 previously.
The upward revision is based on the reforms push and positive developments happening in the US and Europe.
The bank believes the back-to-back announcements on fuel price rationalisation and opening up of FDI (in multi-brand retail, aviation, power exchanges and broadcasting services), is symbolic of the government's reform commitment.
It also expects corporate earnings growth to be on the upside range at 16-17 per cent.
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