Citigroup Upgrades Indian Stocks to Overweight, Sours on Asean
Citigroup Inc. upgraded Indian stocks to overweight from neutral, while turning underweight on equities in Southeast Asia.
There is 'meaningful upside' in Indian equities amid 'less demanding' valuations, Citi said in a note. The benchmark NSE Nifty 50 Index may rise to 26,000 by the end of December, according to strategist Surendra Goyal. That implies about a 15% gain from Monday's trading level.
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