UBS remains bullish on India; upgrades IT, metals

UBS remains bullish on Indian shares, but says returns in 2013 would be front-loaded

RELATED ARTICLES

as first half would be supported by an easing rate cycle and on expectations of a "market-friendly" budget for FY14.

The investment bank turns 'neutral' on IT services stocks from 'overweight' earlier, as it increases weight on Infosys and adds Wipro to its model portfolio.

"Recent Infosys and TCS results may point towards some signs of a relief in offshore spending and an incrementally improved environment for Indian IT," UBS said in the report.

The bank turns 'neutral' on metals stocks from 'underweight' as it adds JSW Steel and Tata Steel to its model portfolio, citing positive trends in steel prices and a pickup in construction activity.

UBS also increases weightage on Reliance Industries ahead of its December quarter earnings on Friday, thereby turning 'overweight' on the petrochemical sector from 'neutral' earlier.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Prabhu Express has trundled into town with a cargo of feel-good promises

    Railway minister Suresh Prabhu, punning on his own name, sought divine intervention more than once while delivering his maiden rail budget last Thursd

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Taslima Nasreen

The death of a liberal humanist

I first met Avijit Roy about 15 years ago. He ...

Purnendu Ghosh

Context is important in colour choices

Colours reflect power, optimism, warmth, emotion and balance. Colours are ...

Shona Adhikari

Art world celebrates two ‘new’ Cezannes

The focus moves once more to post-impressionist Paul Cezanne, who ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture