Buy Calls Are Slowly Vanishing From India’s Booming Stock Market
- Only 61 stocks have consensus buy rating versus 114 in FY23
- Many stocks have now become ‘obscenely expensive’: DSP MF
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Analysts are having a hard time recommending stocks worth buying in India’s $5 trillion equity market.
The number of stocks on the NSE Nifty 200 index with a consensus ‘buy’ rating totaled 61 as of Tuesday, the lowest in at least a decade, data analyzed by Bloomberg show. LIC Housing Finance Ltd., Sun TV Network Ltd. and Dr. Lal PathLabs Ltd. are among stocks that saw multiple downgrades this quarter, putting their average analyst rating at ‘hold’.