1. India’s return on equity bottoming but priced in: Credit Suisse

India’s return on equity bottoming but priced in: Credit Suisse

Police in Singapore said on Wednesday that they have frozen two bank accounts in connection with a probe into alleged financial mismanagement and graft at Malaysia's troubled state fund 1MDB.

By: | Published: July 22, 2015 2:54 PM

* India’s return on equity (ROE) appears to have bottomed at 13.7 pct in March 2015, and has since risen to 14.1 pct, says Credit Suisse

* Adds that India is trading at a 53 pct premium as per its price to book relative to ROE valuation model

* The investment bank says a recovery from the current 14.1 pct ROE to 19.8 pct already appears to be priced in

* Most overvalued sectors are staples and healthcare; while Axis Bank Ltd and HCL Technologies Ltd remain top picks, it says

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