The brokerage said while the country#39;s key fundamentals are positive, at 24 times forward price-to-earnings, Indian equities could see some consolidation ahead of the Fed tapering, a likely rate hike by India#39;s central bank in February, and higher energy costs.Morgan Stanley downgrades Indian equities over valuations
The brokerage said while the country#39;s key fundamentals are positive, at 24 times forward price-to-earnings, Indian equities could see some consolidation ahead of the Fed tapering, a likely rate hike by India#39;s central bank in February, and higher energy costs.
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