Close

Time to Buy India Stocks? Goldman Sachs Says 'Yes'

November 29, 2012 8:36 AM EST
Get Alerts TTM Hot Sheet
Price: $25.14 --0%

Rating Summary:
    6 Buy, 5 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
Join SI Premium – FREE
India stocks and ETFs are on watch Thursday after Goldman Sachs upgraded the country from Market Weight to Overweight, citing a growth recovery and a moderation of inflation.

Goldman forecast India's GDP growth to accelerate from 5.4% in 2012 to 7.2% in 2014, and remain high through 2015-2016.

Goldman sees headline inflation remaining high through 3Q2013, before gradually coming off due to a waning of food and oil shocks.

They forecast the Reserve Bank of India to cut policy rates by 50 bp in each of 2013, 2014 and 2015.

"Reform initiatives and changes in government leadership this fall have created a sense of optimism among the domestic investor base for the first time in over a year, and the risk of policy missteps in 2013 has been lowered," Goldman Sachs said.

Stocks:
Tata Motors Limited (NYSE: TTM)
HDFC Bank Ltd. (NYSE: HDB)
Infosys Ltd. (NASDAQ: INFY)
Tata Communications Limited (NYSE: TCL)
Wipro Ltd. (NYSE: WIT)
Dr. Reddy's Laboratories Ltd. (NYSE: RDY)
ICICI Bank Ltd. (NYSE: IBN)

ETFs:
WisdomTree India Earnings Fund (NYSE: EPI)
PowerShares India (NYSE: PIN)
iPath MSCI India Index ETN (NYSE: INP)


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Insiders' Blog

Related Entities

Earnings