India likely to underperform: CLSA

Christopher Wood of CLSA said, "India in relative terms is likely to continue to underperform in an Asia and emerging market context if the weak dollar-long oil and related long commodity trade continues to play out as it has done since the February low. Still this is not GREED & fear's base case with the 'sell in May' season approaching, with the S&P 500 fundamentally overvalued and with China's credit and growth momentum likely peaking last quarter.""Still, while GREED & fear plans to keep the longstanding structural overweight in India, it remains the case that stock selection should remain relatively low beta given the lack of any conviction here on any near-term upturn in the investment cycle," he added.