The foreign brokerage held back from upgrading India to ‘Overweight’ because of high-valuation premium and the weakening balance of payments
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The foreign brokerage held back from upgrading India to ‘Overweight’ because of high-valuation premium and the weakening balance of payments
Subject : Economy
Context:
Credit Suisse’s Global Equities Strategy team has upgraded India from ‘Underweight’ to ‘Benchmark’ for 2023, on the back of the country’s underlying economic strength.
Details:
In 2022, inflows from domestic institutional investors (DIIs) overshadowed foreign portfolio investments and Credit Suisse sees this trend continuing.
Credit Sussie:
- It was founded in 1856 to fund the development of Switzerland’s rail system.
- It is a global investment bank and financial services firm headquartered in Zürich
- Credit Suisse is also the primary dealer and Forex counterparty of the FED.
- It releases the Global Wealth Report– provides the most comprehensive and up-to-date coverage of information on household wealth worldwide.
- Credit Suisse is organised as a joint-stock company
- Credit Suisse has two divisions:
- Private Banking & Wealth Management– Credit Suisse Private Banking has wealth management, corporate and institutional businesses.
- Investment Banking-Credit Suisse Investment Banking handles securities, investment research, trading, prime brokerage, and capital procurement.
- A Shared Services department provides support functions like risk management, legal, IT, and marketing to all areas.
- Credit Suisse Asset Management sells investment classes, alternative investments, real-estate, equities, fixed income products, and other financial products.
What is underweight?
When a market analyst designates a stock or security as an underweight recommendation, he or she is stating their belief that the stock will likely underperform compared to some benchmark stock, security, or index