Credit Suisse overweight on India, bets on cyclicals
Reuters Market Eye - Credit Suisse says "overweight" on India, noting return on equity in the country could be at an "inflection point" after three consecutive months of upgrades in consensus earnings-per-share (EPS) forecasts.
Cyclicals could continue to outperform defensive stocks, adds the investment bank.
"We believe valuations, EPS revision trends, and rises in US bond yields and the ISM (Institute for Supply Management) suggest cyclicals could have further to outperform," Credit Suisse says in the report dated Thursday.
Its top picks in Asia ex-Japan portfolio include HCL Technologies Ltd (HCLT.NS), Wipro Ltd (WIPR.NS), Tata Motors Ltd (TAMO.NS), Reliance Industries Ltd (RELI.NS), Sesa Sterlite Ltd (SESA.NS) and Cairn India Ltd (CAIL.NS).
(Reporting by Abhishek Vishnoi)
- Tweet this
- Share this
- Digg this
- North Korea sentences US citizen Matthew Miller to six years hard labour
- UPDATE 3-Heineken confirms, rebuffs SABMiller bid
- Wall St Week Ahead - Fed change unlikely to blunt equities' appeal over bonds
- NATO countries have begun arms deliveries to Ukraine - defence minister
- Liberia president sacks 10 officials told to return to fight Ebola
Xi's South Asia Visit
China will pledge to invest billions of dollars in India's rail network during a visit by President Xi Jinping this week, bringing more than diplomatic nicety to the neighbours' first summit since Narendra Modi became prime minister in May. Full Article | Video