HSBC has stuck to its 'neutral' stance on the Indian markets, saying that the valuations still look high and foreign mutual funds are still 'very overweight' on Indian shares.
HSBC estimates MSCI India trades at 16.5 times 12-month forward earnings vs a long-term average of 15
times.
It called Indian shares the second most expensive in Asia ex-Japan after the Philippines.
"Is it time to overweight India? We don't think the time is right yet for us to change our neutral weighting," HSBC said.
Source:
© Copyright 2024 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
HSBC has stuck to its 'neutral' stance on the Indian markets, saying that the valuations still look high and foreign mutual funds are still 'very overweight' on Indian shares.