Global investment bank Morgan Stanley on Wednesday upgraded Indian equities to "overweight" from "equal weight" citing in a boost for investors.
Morgan Stanley said India is becoming a low-beta market within the emerging markets basket. India's relative valuations as compared to emerging markets have come off, it added.
Morgan Stanley added that dividends in India are rising. Further interest rate cuts from the Reserve Bank of India will boost corporate earnings, it added.
Monsoon rainfall and passage of goods and services tax (GST) are the key triggers for the Indian markets, Morgan Stanley said.
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