• Politics
  • Business
  • World
  • Science
  • Startup
  • Health
  • Travel
  • Economy
  • Top Story
Aryavarth News
  • Home
  • Politics
  • City News
  • Top Story
  • Editorial
Wednesday, February 1, 2023
No Result
View All Result
Aryavarth News
No Result
View All Result

Julius Baer upgrades India, fastest growing major economy

"We change our stance on India from market-weight to overweight and see 15% upside from current levels with a Sensex price target of 58,450," it said in a note.

Julius Baer upgrades India, fastest growing major economy

Stock Market

524
VIEWS
Share on WhatsappShare on FacebookShare on TwitterShare on Telegram

New Delhi,(Aryavarth) Singapore-based fund house, Bank Julius Baer, has upgraded India to overweight as it will be the fastest growing major economy in 2021.

“We change our stance on India from market-weight to overweight and see 15% upside from current levels with a Sensex price target of 58,450,” it said in a note.

RelatedPosts

India’s FY22 GDP expected to grow by 8.7%: MOFSL

CII pegs India’s FY22 GDP growth at 9.5%

RBI projects retail inflation for FY22 at 5.1%

“An economic recovery is underway, and we look for 9% y/y GDP growth this year, followed by 7% next year. We look for earnings per share to grow on average over 25% over the next 3 years. It would be unprecedented for the stock market to fall in an environment of such strong growth,” it added.

Scientists think “herd immunity” has been achieved in large parts of the country, which would explain why daily new cases have fallen from almost 100,000 in September to less than 15,000 presently.

Lockdowns are imposed still in specific areas that experience Covid outbreaks, but high frequency data shows that has not stopped a continuous recovery following the nation-wide lockdown from March to July of last year. For example, anonymized data gathered shows the mobility of people using Android-based smartphones is almost back to pre-Covid levels, it added.

An Initial Public Offering of LIC, India’s largest insurer with $464 billion in assets, is planned for the second half of FY2022. The divestment of this company in particular will enable the government to manage its fiscal position.

The budget has set up a special purpose vehicle to sell the idle/non-core assets (especially land) of SOEs. Much of the idle land is well-situated and could be made productive, benefiting economic growth. Divestment of LIC and BPCL remains the key to meet the fiscal deficit target without compromising spending in FY22E, the research said.

With only the brief exception at the bottom of the Global Financial Crisis, in recent history India’s stock market has always traded at a premium to its emerging market counterparts. The current premium of 40% is around the long-term average, it added

Tags: #gdp
SendShare48Tweet30Share

Related Posts

India’s FY22 GDP expected to grow by 8.7%: MOFSL

India’s FY22 GDP expected to grow by 8.7%: MOFSL

June 19, 2021
CII pegs India’s FY22 GDP growth at 9.5%

CII pegs India’s FY22 GDP growth at 9.5%

June 17, 2021
RBI projects retail inflation for FY22 at 5.1%

RBI projects retail inflation for FY22 at 5.1%

June 4, 2021

Covid to impact performance of asset-backed securities: Moody’s

Aryavarth News

Copyright © 2022 Aryavarth Publication Pvt Ltd.

Navigate Site

  • About
  • Advertise
  • Privacy & Policy
  • Contact

Follow Us

No Result
View All Result
  • Politics
  • Business
  • World
  • Science
  • Startup
  • Health
  • Travel
  • Economy
  • Top Story

Copyright © 2022 Aryavarth Publication Pvt Ltd.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.