Citi upgrades India to 'overweight' citing stable earnings, economic growth

After overtaking Hong Kong's stock market in December, India currently has the fourth largest in the world, and is now valued at over $4 trillion.Citigroup analysts upgraded India to "overweight" from "neutral" in their emerging markets allocation on Friday, citing strong earnings and economic growth momentum.

Citi's view is underpinned by the expectation that India's economy - the fastest growing among major peers - will remain strong, growing at 6.8% in the current fiscal. The brokerage remains "overweight" on India's banks, insurers, public sector enterprises, autos and capital goods companies among others. It recommends "underweight" on information technology firms, metals, consumer durables and discretionary as well as paint companies.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Citi upgrades India to 'overweight' citing stable earnings, economic growthCiti upgrades India to 'overweight' citing stable earnings, economic growth
La source: Investingcom - 🏆 450. / 53 Lire la suite »

New York companies say they're owed thousands for 2022 holiday light show at Citi FieldThree New York companies say their bills are being ignored after lighting up Citi Field for the Amaze Light Festival.
La source: CBSNewYork - 🏆 268. / 63 Lire la suite »