Credit Suisse overweight on Indian shares, bets on cyclicals

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Wipro Ltd stock is one of the top picks by Credit Suisse for Asia ex-Japan portfolio. Wipro Ltd stock is one of the top picks by Credit Suisse for Asia ex-Japan portfolio.
SummaryCredit Suisse's top picks in Asia ex-Japan portfolio include HCL, Wipro, Tata Motors, RIL, Sesa Sterlite.

Credit Suisse says "overweight" on India, noting return on equity in the country could be at an "inflection point" after three consecutive months of upgrades in consensus earnings-per-share (EPS) forecasts.

Cyclicals could continue to outperform defensive stocks, adds the investment bank.

"We believe valuations, EPS revision trends, and rises in US bond yields and the ISM (Institute for Supply Management) suggest cyclicals could have further to outperform," Credit Credit Suisse says in the report dated Thursday.

Its top picks in Asia ex-Japan portfolio include HCL Technologies, Wipro, Tata Motors, Reliance Industries (RIL), Sesa Sterlite Ltd and Cairn India Ltd.

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