CREDIT SUISSE today announced an Upgraded outlook on Indian Equities
from UNDERWEIGHT to NEUTRAL.The factors which have been cited as causative for the upgrade are:
- easing headline inflation
- cheaper valuations
- slower earnings estimate downgrades in December 2011.
CREDIT SUISSE further said that according to their Valuation Model, the four cheapest Markets in Asia are
China, Korea, Hong Kong and India. They also stated that the four most undervalued Sectors in India are
Materials, Financials, Energy and Consumer Cyclicals and indicated that they had added TATA MOTORS, TATA STEEL, RELIANCE INDUSTRIES to their model Portfolio alongwith SUN PHARMA and BHARTI AIRTEL. to their Model Portfolio.
As we all know, India has been one of the worst performing Markets in the World with the benchmark Sensex shedding almost 25% in CY2011. This Blog earnestly hopes that the long awaited turnaround is perhaps just a knock away.
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