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BUZZ- Credit Suisse downgrades Indian stocks in Asian portfolio
July 14, 2015 / 5:38 AM / 2 years ago

BUZZ- Credit Suisse downgrades Indian stocks in Asian portfolio

** Credit Suisse trims Indian equities to 1 pct “underweight” from 1 pct “overweight” in its Asian portfolio

** Says the downgrade is more of a tactical call based on valuations

** Adds with investors switching to India as a “safe haven” during China’s sharp falls, India’s price-to-book relative to return on equity (ROE) has risen to 50 pct; the fourth time in the past 15 years

** Still believes India’s ROE is likely to rise in 2016

** The bank removes Tata Motors Ltd from its regional portfolio; top picks include Axis Bank Ltd and HCL Technologies Ltd

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