Citigroup downgrades India to 'underweight'

Thu Jan 10, 2013 4:53pm IST

A boy walks under an excavator against the setting sun in Chandigarh September 8, 2007. REUTERS/Ajay Verma/Files

A boy walks under an excavator against the setting sun in Chandigarh September 8, 2007.

Credit: Reuters/Ajay Verma/Files

Related Topics

Stocks

   

Reuters Market Eye - Citigroup downgrades India to "underweight" from "neutral", as part of its emerging markets review, saying a rebound in economic growth, corporate risk appetite and the investment cycle may not be as strong as current expectations.

Citigroup adds the "ongoing political battles and the upcoming 2014 elections may make this year noisy."

However, more government reform action, along with easing inflation and falling interest rates should support equities, added the bank.

Citi says Indian shares can at best rise 7 percent more from present levels.

(Reporting by Abhishek Vishnoi)

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

Factory Activity

Factory Activity

Factories expand at slowest pace this year in September  Full Article 

Videocon d2h IPO

Videocon d2h IPO

Videocon d2h files for up to $113 million IPOs  Full Article 

Asian Economy

Asian Economy

Asian factories slow in Sept, push inflation ever lower  Full Article 

EBay Divests PayPal

EBay Divests PayPal

EBay follows Icahn's advice, plans PayPal spinoff in 2015  Full Article 

New 'Windows'

New 'Windows'

Microsoft names next operating system 'Windows 10'.  Full Article 

Reuters India Mobile

Reuters India Mobile

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