Investment banking firm UBS has upgraded India stocks to overweight, the Economic Times of India reported Wednesday.
The firm cited attractive valuations compared with growth markets in Southeast Asia and an improving trade balance that could help improve domestic liquidity conditions.
India is currently running a current account deficit, which means it requires more money from foreign sources to fund government obligations, a negative on any economy when liquidity dries up.
UBS warned the country still faces a number of challenges, including politics. However, it recommended that long term investors continue to bet on India.
?We think the risk is worth it ? that either improved risk appetite globally helps lower domestic rates, or that in the coming months an improving trade balance does the same,? UBS said in a report.
Source: http://www.forbes.com/sites/kenrapoza/2012/07/04/ubs-upgrades-india-to-overweight/
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