Citi downgrades India to underweight amid risks
after close1 source ↓written by the desknot a recommendation
- from Friday's close
- 11.7% upside
- Friday's close
- 24,176
Citi has downgraded India to underweight, citing macroeconomic and geopolitical headwinds along with weak earnings. The brokerage set a Nifty target of 27,000, indicating an 11.7% upside from Friday's close of 24,176. It remains bullish on banks, telecom, defence, and pharma, while being underweight on consumer and IT services.
Not investment advice. For informational purposes only.