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Goldman Sachs downgrades Indian stocks to 'underweight' on growth concerns

Aug 01 2013, 10:27 IST
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SummaryExternal funding environment has become challenging, causing RBI to tighten liquidity: Goldman

Goldman Sachs downgraded its rating on Indian stocks to "underweight" on concerns about delayed growth recovery and rising vulnerabilities for the economy.

The external funding environment has also become challenging causing RBI to tighten liquidity, the investment bank said in a note.

Goldman Sachs also expects corporate earnings to grow at 5 per cent for the current fiscal year and 11 per cent for the next year, below consensus estimates.

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