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:

REUTERS SHOWCASE

2015: India Outlook

2015: India Outlook

India in 2014: A dream run for markets  Full Article 

Funding Woes

Funding Woes

Co-founder of SpiceJet seeks time to finalise rescue  Full Article 

Regulating Airfares

Regulating Airfares

India considers temporary cap on airfares - government official  Full Article 

Flying Back on Course

Flying Back on Course

The inside story of the new Airbus A350 jet  Full Article 

Oil Price Forecast

Oil Price Forecast

Oil prices likely to rebound in second half of 2015: poll  Full Article 

Cyber Attacks

Cyber Attacks

China condemns cyberattacks, but says no proof N.Korea hacked Sony  Full Article 

Connecting Markets

Connecting Markets

China stock connect scheme scorecard throws up surprises  Full Article 

Reuters India Mobile

Reuters India Mobile

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