News Formal

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

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

Asia Economy Новости

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.

 

Спасибо за ваш комментарий. Ваш комментарий будет опубликован после проверки
Мы обобщили эту новость, чтобы вы могли ее быстро прочитать.Если новость вам интересна, вы можете прочитать полный текст здесь Прочитайте больше:

 /  🏆 12. in RU

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Citi upgrades India to 'overweight' citing stable earnings, economic growthCiti upgrades India to 'overweight' citing stable earnings, economic growth
Источник: Investingcom - 🏆 450. / 53 Прочитайте больше »

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.
Источник: CBSNewYork - 🏆 268. / 63 Прочитайте больше »