Nomura stays 'overweight' on India; cites robust macro, earnings growth

UNO Minda

06/12/2023 07:12

** Strong macroeconomic fundamentals, potential benefits
from "China + 1" theme, high earnings growth and steady domestic
inflows key themes favouring Indian markets over the next 6-12
months, says Nomura
    ** Brokerage remains "overweight" on India among Asian peers
    ** India's weight in Nomura's Asia ex-Japan model portfolio
at 19%, only next to China's 34.5%
    ** Reliance Industries  RELI.NS , ICICI Bank  ICBK.NS ,
Godrej Consumer Products  GOCP.NS , Axis Bank  AXBK.NS ,
Mahindra & Mahindra  MAHM.NS , Larsen & Toubro  LART.NS , Uno
Minda  UNOI.NS  and Fortis Healthcare  FOHE.NS  are the Indian
stocks in Nomura's Asia ex-Japan model portfolio
    ** India's relatively-lesser exposure to global trade
slowdown versus other Asian peers like China, availability of
long-term investment themes augur well for Indian markets -
brokerage
    ** Identifies rising foreign direct investment (FDI) in
manufacturing, financialisation and digitalisation of the
economy as positive factors for domestic equities

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Allocations in Nomura's Asia ex-Japan model portfolio    https://tmsnrt.rs/41bwPOK
 Indian stocks in Nomura's Asia ex-Japan portfolio    https://tmsnrt.rs/3NgLfrc
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 (Reporting by Bharath Rajeswaran)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))