State-run stocks due for re-rating: Morgan Stanley
Reuters Market Eye - Shares of state-run companies are due for a re-rating, Morgan Stanley said in a short note on Tuesday.
The investment bank says these public sector stocks are trading at multi-year low valuations against the MSCI India index and would also benefit from an expected shift to cyclicals over defensives in coming months.
Morgan Stanley adds the government's proposal to create an ETF for public sector stocks would also be a positive.
(Reporting by Abhishek Vishnoi)
- Tweet this
- Share this
- Digg this
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- Arvind Subramanian likely to be chief econ adviser
- Indians keep faith with Modi, best hope for economy - poll
- Govt raises sugar import duty to 25 pct from 15 pct
- EXCLUSIVE - Apple iPhone 6 screen snag leaves supply chain scrambling
More than 70 percent of Indians are satisfied with the leadership of Prime Minister Narendra Modi since he took office nearly three months ago, an opinion poll showed, seeing in him the best hope to put the economy back on track. Full Article
India to hike iron ore royalty, miners may struggle to pass on extra cost. Full Article