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Aug 30, 2012, 02.09 PM IST
UBS advises investors to stay defensive in Indian stocks, arguing valuations for the Nifty at 12.9 times 1-year forward P/E "are not cheap."
Looking at its model portfolio, the investment bank remains "overweight" on consumers, pharmas and defensive power stocks; "neutral" on IT; and "underweight" on autos, banks, cements, materials, and oil & gas.
UBS says it has also turned "underweight" on infrastructure stocks by cutting the weighting of BHEL
The investment bank adds Nestle Multibaggers: PN Vijay picks 1 midcap and 1 largecap stock
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