Gautam Chhaochharia, ED & Head-India Research, UBS said, If one were to look at the underlying fundamentals then the market looks overvalued but currently they are driven by liquidity, which is still in place.
Moody’s Investors Service has upgraded India’s sovereign rating for the first time since 2004, citing continued progress in the nation’s economic and institutional reforms. The rating agency on Monday moved India’s rating up by one notch to Baa2 from Baa3. The outlook on the rating is ‘stable’.
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