Positive on India but valuation a concern: BoA-ML
May 21st, 2009
Michael Hartnett, Co-Head – Investment Strategy, Bank of America-Merrill Lynch, said India now trades at a premium to other emerging markets “For India, in the short term, we have concerns on valuations and also on the current account, budget deficit, the rupee,” he said.
According to him, India can see substantial growth if the corporate sector gives good return on equity (RoE). He added that if commodity prices continue to stay low over the medium term, it will benefit the country.