HSBC downgrades India to ‘underweight’ as oil shock clouds earnings recovery
HSBC said that although domestic equity valuations have corrected from their peaks, they may appear expensive again as earnings downgrades filter through. (Representational image) | Photo Credit: Getty Images/iStockphoto HSBC downgraded Indian equities to “underweight” from “neutral” – its second cut in less than a month – as it expects surging energy prices triggered by…
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