Morgan upgrades India equities

business Updated: May 26, 2016 06:13 IST

MUMBAI: In a big boost to investor confidence, global investment bank Morgan Stanley on Wednesday upgraded Indian equities to “overweight” from “equal weight”. India’s relative valuations have come off compared to emerging markets, and interest rate cuts from the Reserve Bank of India will boost it further, it added.

A good monsoon and passage of goods and services tax are likely to be additional triggers for the markets.

First Published: May 26, 2016 06:13 IST