The brokerage, known for going against the tide, is now unabashedly gung-ho about the prospects of the Indian stock markets.
On 10 October, Hong Kong-based CLSA, which calls itself Asia’s leading brokerage and investment group, put out a global equity strategy report titled “Incredible India: Raising exposure”. The report’s authors—the firm’s Singapore-based managing director and chief equity strategist Alexander Redman and Hong Kong-based analyst Della Chan—admitted that they had “persisted for too long with our negative view” on India. They said they were changing their recommendation—in broking parlance—from “underweight” to “overweight”.
The change in stance is quite remarkable. CLSA, founded by two former journalists and popular for its “against the tide” views on the market, had in November 2022 …
Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.
Executive Editor
surendar@mailtmc.com
Mumbai