UBS? has advised investors to stay defensive in Indian stocks,? and argued that the valuations for the Nifty at 12.9 times 1-year forward? ?are not cheap.?
After having looked at its model portfolio, the investment bank? has remained ?overweight? on consumers, pharmaceuticals and defensive power stocks; UBS is neutral on IT stocks and ?underweight? on autos, banks, cements, materials, and oil & gas.
Reuters
UBS has? said that it has? turned ?underweight? on infrastructure stocks by cutting the weighting of BHEL? and Larsen & Toubro.
The investment bank added Nestle in place of Dabur India? in its model portfolio, it also added Phoenix Mills? and removed ICICI Bank .
Reuters
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Source: http://www.firstpost.com/investing/stay-defensive-in-indian-stocks-advises-ubs-436355.html
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