Incredible India earns upgrade from CLSA. 8 reasons, 20 stock picks behind the U-turn

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Last month, Nomura had also upgraded the Indian equity market to overweight status saying that valuations may remain expensive. In August, Morgan Stanley had upgraded India to overweight rating and ranked India as the No. 1 market in its basket of Asian emerging markets ex-Japan on the back of a structural uptrend and secular leadership.

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