India Equity Insights
A good start but more needs to be done
A flurry of policy announcements sparked a rerating in Indian
stocks, with foreign institutional flows surging in September
We raise our Sensex targets to 18,700 (from 18,000) for CY12 and
20,000 (from 19,000) for CY13 on improved sentiment, but remain
underweight India in a regional context due to the rich valuation
Our three key themes for the final quarter are: resilient
earnings, domestic consumption and domestic investment