HSBC warms up to India ahead of general polls
Brokerage firm HSBC upgraded Indian equities to "neutral" from "underweight" on Tuesday, saying valuations were more reasonable, investors` holdings were very low and strong earnings growth would continue next year.
HSBC said it expected equities to gain like in the previous three polls, probably "because more pro-growth policies are implemented before elections or that the market is more willing to anticipate such policies". Image source: Reuters