Morgan Stanley’s India Strategy says new highs on indices spark doubts whether a bubble is brewing. Believe India is not yet in bubble territory. Holding periods declining (a tell tale sign of fast money). Leading indicators well poised for market outlook. Corporate earnings generally positive about equity returns. Cross asset & sentiment indicators are neutral on equities. India seems set to beat EM peers. India a stock picker's market with ample alpha opportunity. Ridham Desai says that new highs on leading indices raises doubts whether a bubble is brewing. In our view India is not yet in bubble territory. There is richness but not yet a bubble in India stock. Holding periods are declining which is a tell-tale sign of fast money. Watch the full interview with Ridham Desai, Managing Director Morgan Stanley on The Interview.
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