Jefferies predicts a short‑term Indian equity bounce, but supply constraints limit 12‑month upside amid regulatory issuance.

• Foreign investors remain underweight in India, citing recent earnings disappointments and weaker corporate profit outlooks overall.
• GDP growth forecast 6.3‑6.8%, GST reforms and easing rates expected to attract capital inflows significantly.
• Corporate optimism on tax cuts and consumption boost priced in, supporting Nifty target of 26,600.