Key Drivers Behind HSBC Downgrading India To UnderweightMani
Softer earnings near term with delayed reforms and an existing overweight stance for FIIs on India makes it difficult for the country to sustain its valuations, and accordingly, HSBC has revised its Sensex target to 26,900 (from 30,100) for end-FY15.
Jitendra Sriram of HSBC in his May 15, 2015 research report titled: “India Equity Insight: Headwinds along the way,” however, believes India’s long-term growth potential remains intact.
Key drivers behind the India downgrade
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