PL Capital sees Nifty at 27,589 in 12 months

PL Capital forecasts the Nifty will reach 27,589 within 12 months, 21.42% above Tuesday's close and 1.68% above its earlier 27,133 target. The brokerage warns geopolitical tensions, inflation, a 13% monsoon deficit and high rates will keep markets volatile and pressure earnings and foreign flows. It stays overweight capital goods, healthcare, banks, metals and telecom.