HSBC upgrades India rating as hype gone; lists 8 stocks it likes
Brokerage house HSBC India has upgraded its rating on the Indian market to ‘neutral’ from ‘underweight’, saying valuation premium to Asia has declined and is now approaching a 10-year average premium. “The hype is almost gone,” says the HSBC note, adding, “High-frequency indicators suggests the earnings environment might improve, although earnings expectations remain too optimistic.”
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