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.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Citi upgrades India to 'overweight' citing stable earnings, economic growthCiti upgrades India to 'overweight' citing stable earnings, economic growth
Source: Investingcom - 🏆 450. / 53 Read more »
Source: CBSNewYork - 🏆 268. / 63 Read more »