Nomura hikes India exposure; M&M, Fortis, UNO Minda among favourites

Says India is home to many high-quality growth stocks, and is less exposed to global trade slowdown

Nomura has hiked its exposure to Indian equities in its Asia ex-Japan portfolio and remains overweight on Indian stocks, despite expensive valuations. In a recent note, the global brokerage firm said India now commands a weight of 19 per cent in the above-mentioned portfolio as compared to 18.2 per cent in September 2023.

India, it said, is a large liquid market and remains a counter-weight to North Asia if a slowdown in the West occurs and China’s recovery disappoints. India, Nomura believes, is home to several high-quality growth stocks albeit expensive, and is less exposed to global trade slowdown.

“Going