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MARKET EYE-Barclays adds Hindalco to Top 10 Indian stocks list
July 16, 2012 / 5:13 AM / 5 years ago

MARKET EYE-Barclays adds Hindalco to Top 10 Indian stocks list

* Barclays Capital adds Hindalco to its top-10 stock
picks in India, in place of Infosys, which was
downgraded to 'equal-weight' following disappointment on its
April-June results. 
* The investment bank says Hindalco could benefit from potential
approvals on coal blocks at its Mahan project, as well as cash
flow from U.S. unit Novelis, which is not dependent on
commodity prices.
* BarCap also raises its "overweight" positions in consumer
staples and health care, as part of its "defensive stance in
favour of sectors with earnings visibility and strong
fundamentals."
* Investment bank also maintains its "Overweight" Stance on
infra-related sectors such as building materials given prospect
of policy measures after presidential elections on July 19.
* BarCap reduces stance on IT Services sector to "market
weight."

 (abhishek.vishnoi@thomsonreuters.com)

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