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 hitsThe 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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