HSBC: India's Earnings Recovery Delayed, Stock Picks Highlighted

  Published 9 months ago

HSBC notes India's earnings recovery delayed; IT, bank challenges, weak consumption, and top stock picks highlighted.

  • IT services growth weak due to US policy; domestic rate cuts hurt bank margins.
  • Urban consumption, private capex remain weak; brokerage sees India stocks resilient amid trade turmoil.
  • Neutral India outlook with 2025 Sensex target at 82,240; top picks include GOCP, GAIL, HDFL.

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