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    Goldman downgrades India to 'underweight'

    Concerns about delayed growth recovery, rising vulnerabilities for the economy and the country's external funding environment has led to Goldman downgrading India
    August 01, 2013 / 16:29 IST

    Goldman Sachs downgraded its rating on Indian stocks to 'underweight' on concerns about delayed growth recovery and rising vulnerabilities for the economy.

    Also Read: Chidambaram's one year report card: More misses than hits

    The external funding environment has also become challenging causing RBI to tighten liquidity, the investment bank said in a note.

    Goldman Sachs also expects corporate earnings to grow at 5 percent for the current fiscal year and 11 percent for the next year, below consensus estimates.

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