HSBC downgrades India to neutral

Herald van der Linde of HSBC said they had downgraded India to neutral and removed Dr Reddy's, while retaining Titan Industries.
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Jun 27, 2012, 08.49 AM | Source: CNBC-TV18

HSBC downgrades India to neutral

Herald van der Linde of HSBC said they had downgraded India to neutral and removed Dr Reddy's, while retaining Titan Industries.

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HSBC downgrades India to neutral

Herald van der Linde of HSBC said they had downgraded India to neutral and removed Dr Reddy's, while retaining Titan Industries.

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Herald van der Linde (more)

Head of Equity, HSBC Group | Capital Expertise: Equity - Fundamental

Here are experts equity calls for the day on how the markets are expected to trade:

Herald van der Linde, HSBC: We are approaching an inflection point that will determine if financial markets, including Asia can stabilise and start an erratic recovery phase in the weeks ahead. Conversely, we could be in a lull before financial markets slump if the European fiscal crisis intensifies. We have downgraded India to neutral and removed Dr Reddy's, while retaining Titan Industries.

Sanjeev Prasad, Kotak Institutional Equities: The steep correction in global crude oil prices and reluctance of global central banks to stimulate their economies through unconventional monetary policies provide India with a window of opportunity to resolve its domestic issues. However, fair valuations, dysfunctional politics and problems in several domestic sectors prevent us from taking a more positive stance. We stay defensive.

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HSBC downgrades India to neutral

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