Indian Stocks 2008: Are There Any Winners?

Just like the overall market, Indian ADR’s have struggled since 2008 rolled in.

click to enlarge

Note: Videsh Sanchar Nigam Ltd. (VSL) is now called Tata Communications (TCL).

As far as I am concerned the only Indian ADR worth looking at this point is Sterlite (SLT). ICICI Bank (IBN) and HDFC Bank (HDB) are also worth considering, but I would wait for a little better entry point.

As far as other ADR’s are concerned, I don’t see anything exciting at this moment. Let me know if you think otherwise, as any ideas would be welcome.

ETFs/ETNs/CEFs

The recent launch of Wisdomtree India ETF (EPI) looks better than the India IPATH ETN (INP). Energy plays a bigger role in EPI and technology plays a bigger role in INP.

The Powershares India ETF (PIN) is about to launch as well. The ETF pick might end up being between Powershares India ETF vs. Wisdomtree India ETF.

Although the Indian markets have been hit by the turmoil here in the United States, India still remains an attractive investment destination. It’s certainly good to see the launch India ETFs to give people more choices to invest in India.

Full Disclosure: I am long Sterlite (SLT).

Comments

[tommaso pal...:]

hello
can you tell me if big institutions are now allowed to do short selling in india?
sofar only individuals have been allowed
once big institutions can short-sell individual stocks,it should be easier to understand if the indian market is overvalued
me too,i like ibn,hdb
i would buy ibn at the low set in august 07,about 40
it is at 50 today
cheers
tom

2008 Mar 03 10:43 AM

[growthvalue:]

I am long SLT as well and it is the only indian stock that I own. At these levels I feel it very under valued. CFSB just upgraded the stock to outperform.

2008 Mar 09 05:55 PM