India’s stock market poised for rebound, says Halbis

By Rita Raagas De Ramos | 12 August 2008
Keywords: india | halbis | sanjiv duggal
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Sanjiv Duggal, who manages the $6 billion HSBC Indian equity fund, is reducing his cash position and shifting his bias from defensive to growth plays.

HSBC Global Asset Management believes the sell-off in India’s stock market has been overdone and sentiment is too pessimistic considering the solid fundamentals of many of the listed companies there. It is for that reason – plus expectations of relatively strong economic growth – that the fund house believes the market is poised for a rebound and will deliver solid returns over the medium-term.

Sanjiv Duggal, the Singapore-based fund manager of the $6 billion HSBC Global Investment Funds – Indian Equity portfolio, has turned bullish on India after turning negative on that market ...
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