Global brokerage Goldman Sachs said that India is poised to be the among fastest growing economies in the medium-term. In a recent note, the brokerage noted that after a decade-long downcycle, India’s earnings have started to stablise over the past few years.

There is a mid-teen profit growth momentum that might sustain until 2030, the brokerage said as Nifty’s total earnings growth and market cap have both achieved an 18 per cent CAGR over the past five years.

Owing to this, the profit pool is likely to shift towards investment cyclicals, which includes autos, real estate, chemicals along with industrials. This could see the largest rise in profit share and the brokerage said that consumer cyclicals could see the highest absolute growth.

The brokerage issued a ‘buy’ call on 20 stocks: RIL, L&T, NTPC, M&M, UltraTech, Power Grid, Adani Ports, IndiGo, Eicher Motors, Havells, Polycab, Ashok Leyland, Phoenix Mills, Uno Minda, Hitachi Energy, Astral, Embassy REIT, Kajaria Ceramics, Blue Dart, and Amber Enterprises.