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

📆 11/05/2024 11.03.00
📰 CNBC

⏱ Reading Time:
24 sec. here
3 min. at publisher
📊 Quality Score:
News: 16%
Publisher: 72%

Asia Economy Berita

Business News

The brokerage expects India's blue-chip NSE Nifty 50 index to rise 7% between now and the end of the current financial year, setting a target of 23,900.

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.

Tulis Komentar

Berita ini telah kami rangkum agar Anda dapat membacanya dengan cepat. Jika Anda tertarik dengan beritanya, Anda dapat membaca teks lengkapnya di sini. Baca lebih lajut:

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

Citi upgrades India to 'overweight' citing stable earnings, economic growthCiti upgrades India to 'overweight' citing stable earnings, economic growth
Sumber: Investingcom - 🏆 450. / 53 Baca lebih lajut »

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.
Sumber: CBSNewYork - 🏆 268. / 63 Baca lebih lajut »