Citigroup downgrades India to 'underweight'
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)
- Tweet this
- Share this
- Digg this
- UPDATE 4-P&G to exit Duracell battery business; quarterly sales dip
- UPDATE 7-Doctor with Ebola in New York stable; nurse is virus-free
- Putin accuses United States of damaging world order
- Special Report: Why Madrid's poor fear Goldman Sachs and Blackstone
- Doctor with Ebola in New York stable; nurse is virus-free
The latest Reuters poll of 20 economists taken over the past week shows Asia's third-largest economy will likely grow 5.5 percent this fiscal year and 6.4 percent the next, slightly better than 5.3 percent and 6.3 percent expected in the July poll. Full Article
Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw” Full Article