Goldman Sachs maintains its "overweight" call on Indian stocks, with an end-2013 target for the Nifty of 7,000 points. Goldman includes Bajaj Auto and Tata Steel in its Asia-Pacific "growth recovery" group of stocks that have favourable growth and valuations, according to its Asia-Pacific outlook report dated Jan 4.

The bank sees Infosys as a stock with a potential "catch-up" opportunity after lagging in 2012.

Infosys shares fell 16.2 percent in 2012, widely under-performing the broader 27.7 percent gain in the Sensex.

Goldman also highlights Tata Motors, Sterlite Industries (India) Ltd and Hindalco Industries Ltd as stocks with favourable macro exposure and attractive profiles versus regional peers.