Overnight Change in Outlook

With a stable Government in place, Analysts believe business confidence will look up and the prospects of fiscal consolidation will improve. The street is Overweight the investment cycle and adding to our positive stance on Financials.

  • Upgraded Industrial from Underweight to Overweight
  • Utilities from neutral to Overweight
  • Financials from Underweight to Overweight
  • Healthcare and Consumer Staples from Neutral to Underweight
  • Materials – Underweight
  • Downgrading IT Services, from an Overweight to Neutral
  • Upgrading Telecoms from Underweight to Neutral

However, the big question is will earnings match the new ratings for FY10 or will they start selling the FY11 story ? Tezi Mein Tezi seems to be the buzzword 🙂