All That You Need to Know About the Stock of Goldman Sachs Group Inc.
Goldman Sachs Group Inc has called time on the world-beating surge in Indian stocks.
The nation’s equity market looks less favorable amid elevated valuations, a potential slowdown in economic growth and upcoming elections, according to Goldman Sachs analysts, who cut India to the equivalent of a hold rating from buy.
The firm has been bullish on Indian stocks since March 2014 and the market has nearly doubled since then, returning more than twice that of global equities.
“The risk reward for Indian equities is less favorable,” the analysts, including Sunil Koul, wrote in a report dated Sept. 16. “The key reasons for our less optimistic view include, among others, stretched valuations, multiple macro headwinds in the near term and election event risk.”