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  • StockPitch-India (May) 0 comments
    May 18, 2009 12:19 AM

    India has had a leap forward in its quest towards becoming a economic super-power. The current government coming back to power for another term ensures further liberalization of a lot more closed sectors. India is still expected to grow at 6% p.a and the unemployment rates have almost peaked out. A good indication of when to invest in India is the rupee appreciation trend. With the Government and several corporations turning towards rural India for growth the country should be able to sustain this economic growth for atleast another 5 years.

    India has under-performed Asia year to date and should have gains for the next couple of weeks. I see India out-performing Asia for the next month. In India Banks have underperformed the Sensex and appear to be cheap. With RBI expected to cut rates further, banks should have a good run from here. I expect a lot of foreign institution money to come into India for the next few months. Most long-term investors will see the election results as a big positive for India.

    In India I would buy banks, infrastructure, commodity and consumer discretionary.

    Banks - ICICI Bank - (IBN - ADR)

    Infrastructure - BHEL

    Commodity - Sesa Goa

    Consumer Discretionary - Maruti Suzuki.



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