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
- Israel extends Gaza ceasefire for 24 hours, Hamas rejects terms
- Australia approves Adani's $16 bln Carmichael coal project
- U.S. diplomats' return to Libya could be more hazardous than exit
- Analysis - Amazon's far-reaching ambitions, lack of profits, unnerve investors
- Reliance Power to buy Jaiprakash's hydropower business
The Indian subsidiary of Anglo-Dutch parent Unilever made a net profit of 10.57 billion rupees ($175.9 million) for the three months ended June 30, from 10.19 billion rupees in the same period a year earlier. Full Article