Reuters Market Eye - HSBC initiates coverage of Indian agricultural sector with "overweight" ratings for seed supplier Kaveri Seed Company (KVRI.NS) and agrochemical firm PI Industries Ltd (PIIL.NS) citing their "growth profiles, favourable sector trends and attractive valuations."
HSBC says projections for India's food demand could see agricultural yields improving by 1.7 percent annually, making companies in this segment "stronger gainers in coming years."
The investment bank also initiates UPL limited (UPLL.NS) with an "overweight" rating, calling the company "India's only genuine play on global crop protection."
But HSBC initiates Rallis India Ltd (RALL.NS) with a "netural" rating, saying a recent rally has made valuations rich.
(Reporting by Dipika Lalwani)
Trending On Reuters
Four state-run banks reported a spike in bad loans and provisions for sour debt on Tuesday after a clean-up exercise ordered by their regulator, sending three of them to net losses for the fiscal third quarter. Full Article