JPMorgan shifts India stance to neutral, trims Nifty to 27,000
Business
JPMorgan just shifted its view on Indian stocks from "overweight" to "neutral," following a similar move by HSBC earlier this month.
The bank also trimmed its Nifty 50 index targets, now aiming for 27,000 as the base case, with best- and worst-case scenarios set at 30,000 and 20,500.
JPMorgan flags India valuation risks
JPMorgan says Indian stocks are looking pricey compared to other emerging markets and could face earnings risks.
It also pointed out that India's market isn't as exposed to next-generation tech sectors as others, and there are worries about possible stock dilution.
Meanwhile, JPMorgan is feeling more upbeat about tech and Taiwan stocks, bumping up its ratings and targets there.