India is about to see a surge in investment, Morgan Stanley says, and reveals how to trade it.
India is set to see a surge in investments, according to Morgan Stanley , which named several stocks it thinks could benefit from rising capital expenditure in the economic powerhouse. In a note entitled "How to Play India's Coming Capex Boom," Morgan Stanley analysts said it was expecting supply-side factors and to align with improving demand, boosting investment to gross domestic product.
Bank and State Bank of India . "Banks with liquidity or liability franchise are best placed to deliver profitable revenue growth ... Large banks are best placed to capitalize, we believe. and SBI remain our preferred picks to play the capex cycle," Achhipalia said. Achhipalia believes is one of the best placed amongst private banks to deliver strong earnings in the current cycle and has ascribed a price target of 1,225 Indian rupees on the stock. Shares of
closed at around 907 rupees on Monday, which implies a potential upside of 35.1%. He also "materially" raised his loan growth for SBI — India's largest public sector bank. The stock is also trading below its long-term average, making it look attractive from a valuation perspective. Morgan Stanley has a price target of 675 Indian rupees on SBI, which closed at around 555 Indian rupees on Monday — an implied upside of 21.6%.
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