MARKET EYE-UBS remains bullish on India; upgrades IT, metals

Thu Jan 17, 2013 4:09pm IST

Related Topics

Stocks

   
Inside the Peshawar school

Inside the Peshawar school

The aftermath inside the Pakistan school where at least 132 students and nine staff members were killed by Taliban gunmen.  Pictures 

* UBS remains bullish on Indian shares, but says returns in 2013
would be front-loaded as first half would be supported by an
easing rate cycle and on expectations of a "market-friendly"
budget for FY14.
* The investment bank turns 'neutral' on IT services stocks from
'overweight' earlier, as it increases weight on Infosys
 and adds Wipro to its model portfolio. 
* "Recent Infosys and TCS results may point towards
some signs of a relief in offshore spending and an incrementally
improved environment for Indian IT," UBS said in the report. 
* The bank turns 'neutral' on metals stocks from 'underweight'
as it adds JSW Steel and Tata Steel to its
model portfolio, citing positive trends in steel prices and a
pickup in construction activity. 
* UBS also increases weightage on Reliance Industries 
ahead of its December quarter earnings on Friday, thereby
turning 'overweight' on the petrochemical sector from 'neutral'
earlier.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.thomsonreuters.com@reuters.net)
FILED UNDER:

Economic Pulse

REUTERS SHOWCASE

Hope for SpiceJet

Hope for SpiceJet

Former SpiceJet owner leading rescue plan: reports.  Full Article 

Oil Prices

Oil Prices

Oil rallies above $60, heads for 4th weekly decline on glut.  Full Article 

New Airline

New Airline

Tata, Singapore Air venture Vistara to take off on Jan 9.  Full Article 

Reuters Exclusive

Reuters Exclusive

Google aiming to go straight into car with next Android – sources.  Full Article 

Chinese Economy

Chinese Economy

China revises up size of 2013 economy, sees no effect on 2014 growth.  Full Article 

Reuters Poll

Reuters Poll

BSE Sensex to hit 32,980 by December 2015  Full Article 

Reuters India Mobile

Reuters India Mobile

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