HSBC turns overweight on India; valuations 'not a risk'
HSBC upgraded India to 'overweight', stating that valuations are no longer a hurdle, policy is turning supportive, and foreign funds are under-positioned. It called India Asia’s “quiet corner,” with US tariffs expected to have limited profit impact. In contrast, KIE flagged only modest near-term upside despite FY27 earnings strength. Indices fell again; the rupee steadied on suspected RBI support.