Goldman upgrades India to 'overweight'; sees recovery ahead
Goldman Sachs raised India to 'overweight' from 'market-weight', citing growth recovery and inflation moderation ahead.
November 29, 2012 / 11:38 IST
Goldman Sachs raised India to 'overweight' from 'market-weight', citing growth recovery and inflation moderation ahead.
The investment bank pegged December 2013 Nifty target at 6,600 points.Also Read: Sentiments improve; Nifty may breakout of range: Udayan"Reform initiatives and changes in government leadership this fall have created a sense of optimism among the domestic investor base for the first time in over a year, and the risk of policy missteps in 2013 has been lowered," said Goldman Sachs in a report.The investment bank added that MSCI India's valuation was well below the 5-year average of 14.9 times, affording an attractive entry point into one of the stronger structural growth markets in the region.Nifty ended 1.62 percent up at 5,727.45 points on Tuesday. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
