January 5, 2018 / 7:50 AM / 2 months ago

BUZZ-Credit Suisse "cautiously optimistic" on Indian equities in 2018

** Credit Suisse maintains “cautiously optimistic” outlook on Indian equities for 2018, citing concerns regarding fiscal deficit, state elections, earnings downgrades and high valuations

** CS adds it does not expect “sharp, prolonged correction in equities” this year due to robust domestic flows and solid global growth outlook

** The drag on economy from govt’s anti-corruption drive and Goods and Services Tax (GST) implementation is here to stay for some more time - CS

** India’s GDP growth could surprise on the downside; estimates growth of 6.6 pct in FY 2018 and 7 pct in FY 2019 vs consensus of 6.7 pct and 7.4 pct, respectively - CS

** Companies’ EPS growth in FY 2019 could be best in last five years since issues related to RBI’s asset quality review, demonetization, GST implementation, competitive pressures are now fading - CS

** CS expects energy sector to remain in limelight in 2018 given firm oil price environment and favourable govt policies to support the sector

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