LONDON (Reuters) – Indian stocks look expensive relative to stocks in developed markets but still offer further upside, Patrick Armstrong, a fund manager at Insight Investment (HBOS.L: Quote, Profile, Research) who has recently increased his exposure there, told Reuters.
India’s 30-share benchmark BSE index <.BSESN> has recovered from a steep sell-off earlier this year to hit a succession of record highs, fuelled by strong economic and corporate profits growth.
During trade on Tuesday the index reached 13,300.69 points, taking gains so far this year to more than 40 percent and to more than 60 percent over the past 12 months.
