INSUBCONTINENT EXCLUSIVE:
to equal-weight from overweight on Thursday due to expensive valuations, and said it expects the market to consolidate ahead of potential
"short-term headwinds".The brokerage said while the country's key fundamentals are positive, at 24 times forward price-to-earnings, Indian
equities could see some consolidation ahead of the Fed tapering, a likely rate hike by India's central bank in February, and higher energy
Indian stocks have strongly outperformed other emerging markets this year, with the MSCI India index up 27.53 per cent, compared to a 0.65
a "favourable" government reform agenda.The brokerage had said in an earlier report that nascent signs of capital expenditure, supportive
three-four years."While the fundamental leading indicators are positive, we see valuations as increasingly constraining returns over the
