Goldman Sachs upgrades India to 'overweight'

MUMBAI Thu Nov 29, 2012 9:27am IST

Brokers trade on their computer terminals at a stock brokerage firm in Mumbai May 4, 2009. REUTERS/Punit Paranjpe/Files

Brokers trade on their computer terminals at a stock brokerage firm in Mumbai May 4, 2009.

Credit: Reuters/Punit Paranjpe/Files

Related Topics

Stocks

   

MUMBAI (Reuters) - Goldman Sachs raised India to 'overweight' from 'market-weight', citing growth recovery and inflation moderation ahead.

The investment bank pegged December 2013 Nifty target at 6,600 points.

"Reform initiatives and changes in government leadership this fall have created a sense of optimism among the domestic investor base for the first time in over a year, and the risk of policy missteps in 2013 has been lowered," said Goldman Sachs in a report.

The investment bank added that MSCI India's valuation was well below the 5-year average of 14.9 times, affording an attractive entry point into one of the stronger structural growth markets in the region.

Nifty ended 1.62 percent up at 5,727.45 points on Tuesday. (Reporting by Abhishek Vishnoi and Manoj Dharra; Editing by Subhranshu Sahu)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

DLF Appeals

DLF Appeals

DLF seeks interim relief from capital market ban  Full Article 

Business Climate

Business Climate

Fears for tough penalties grow as India cleans up business  Full Article 

Falling Oil Prices

Falling Oil Prices

Indian consumers respond to softer oil, food prices  Full Article 

Pollution Levels

Pollution Levels

Delhi braces for worst air quality this Diwali week.  Full Article 

Fire Accident

Fire Accident

Firecracker market up in flames near Delhi  Video 

Yahoo Result

Yahoo Result

Yahoo ekes out Q3 revenue gain despite display ad weakness  Full Article 

Deal Talk

Deal Talk

Smartphone repair company B2X steps up expansion with Indian deal.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage