Swiss investment bank, UBS has given its own list of top 10 stock picks in Asia for 2009, and surprisingly the list has only one Indian company, Bharti Airtel Ltd., India’s largest mobile-phone operator.
According to UBS, Asian markets would witness a rebound in 2009 due to better credit conditions and sudden rebound in global growth.
Currently Asian equities are at 1.11 times book value while the average is 1.6 times leading to view for considerable upside.
UBS is overweight on China, Hong Kong and Singapore while underweight on India, Malaysia and Taiwan.
Bharti Airtel qualifies for only Indian pick due to its balance sheet strength and is the best positioned mobile operator. Also it is a ‘high yielding stock with good cash flow’.
Other companies in the list includes Cathay Pacific Airways, China Mobile Ltd and United Overseas Bank Ltd. source
Find this article at: http://www.labnol.org/india/markets/sensex-rebound-in-2009-bharti-airtel-to-lead-revival/5861/
Tags: airtel, investment bank, mobile, telecom, India, Markets
Reader Comments
SBI is better positioned as an Indian stock than Airtel. Sure, Airtel has its strong brand value and presence. Reliance with its new GSM license is laying towers which are outnumbering Airtel’s. This means reduced business for Airtel. DTH of Airtel is not doing that great too.
SBI is shielded from the shocks by the government. In fact, its the only stock along with NMDC which gained when everyone in the top 10 tanked.
Written by Sriram Vadlamani on 12.07.08