UBS sees possibility of downside to its FY16 year-end forecasts for CPI
Picture used for representational purpose. (Photo: DC/File)
New Delhi: UBS sees possibility of downside to its FY16 year-end forecasts for CPI and 10-year rates of 5.6 percent and 6.5 percent respectively.
Expects continued restraint in India's fiscal and monetary policy, UBS analysts say in a report.
Says watch market interest rates, not just RBI. WPI-based real rates now at 6 percent.
Says financials most preferred sector as declining interest rates should support asset quality and earnings.
Lists LIC Housing Finance, Shriram Transport Finance Co, State Bank of India and IndusInd Bank as top picks.
Keeps Nifty target for end-2015 at 9,600.
( Source : reuters )
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