Funds with global mandate and domestic investors should continue to drive Indian stocks...
Funds with global mandate and domestic investors should continue to drive Indian stocks, says CLSA.
Says funds with global mandate looking into the long-term structural nature of the India story.
Adds global funds flow to Indian shares at $16 bln YTD – lower than $18 bln average over the last three years.
Expects annual net inflows of $15 bln from domestic investors over the next few years.
ICICI Bank, Axis Bank and State Bank of India remain top ideas among lenders.
Adds Coal India in its model portfolio and adds weight to Mahindra and Mahindra.
Cites India’s plans to double Coal India’s production in five years.
Removes Hero MotoCorp and Sesa Sterlite from model portfolio.