Citi downgrades to Indian equities to ‘neutral’ from ‘overweight’; here’s why – Times of India
Brokerage firm Citi has cut down its rating on Indian equities to ‘neutral’ from ‘overweight’, pointing to expensive valuations and weaker earnings growth forecasts.“India remains most expensive market (23 times) vs both its peers and its own average valuation,” the firm said in a note, even as it acknowledged that India’s macroeconomic story is stronger…
