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
Trending On Reuters
Religion and Politics
The head of India's most powerful Hindu group vowed to press ahead with a campaign to convert Muslims and Christians to Hinduism, stoking a sensitive debate that has stalled parliament and threatened Prime Minister Narendra Modi's economic reform agenda. Full Article