2 weeks Ago By The Hans India
New Delhi: Global brokerage firm UBS Group AG has upgraded India to ‘Neutral’ from its earlier ‘Underweight’ tag, in its revised equity strategy for emerging markets, following the uncertainties in international trade triggered by the dramatic tariff hikes announced by US President Donald Trump. UBS acknowledged India’s strengths, noting its strong domestic-focused toplines, resilience in earnings per share (EPS) even during adverse conditions, and potential advantages from declining oil prices. Additional tailwinds for the Indian economy include the growing willingness of banks to lower deposit rates, despite sluggish deposit growth, and possible government measures to boost consumption.
Global brokerage is becoming more optimistic about the Indian market amid a growing preference for defensive and domestically-oriented shares, UBS strategists, including Sunil Tirumalai, wrote in a note released on Thursday..
