Hasnain Malik India economy Government crisis Hasnain Malik India

Investors try to look beyond India's Covid crisis

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Sensex stock index has recovered some ground and the rupee is heading for its best week since August."Prime Minister Modi, and the partial structural reform hopes he represents for investors, is neither sufficiently vulnerable politically, nor are Indian equities sufficiently expensive relative to history, to throw the towel in on what remains the best country pick in large emerging markets," said Hasnain Malik, head of equity research at Tellimer.STARS ALIGNINGThe $600 billion of FX reserves the central bank has built up should meanwhile cushion any capital outflows, and unlike last year, credit rating agencies have stayed clear of downgrading India, which would push it out of the investment-grade bracket.Although Fitch warned about the.

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