Global brokerage firm JP Morgan has warned that India’s FY27 earnings are at risk from a protracted energy and logistics shock, and said the Nifty50 could fall to 20,500 in a bear-case scenario, even as its base-case target remains 27,000.
The brokerage notes that while 4QFY26 results were broadly better than expected across MSCI India and Nifty companies, the backdrop for FY27 has turned more fragile. Management commentary “clearly flags macro, logistics, and pricing risks” stemming from the Middle East conflict, with JP Morgan cautioning that these headwinds could force companies to trim their full-year outlooks if disruptions linger.
