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From clean energy to health, Morgan Stanley picks India stocks set to see strong growth

Published Sun, Oct 17 202110:22 PM EDT

Saheli Roy Choudhury @sahelirc

After outpacing other emerging markets, India's stocks are poised to see strong earnings growth in years to come, Morgan Stanley said. India outperformed other emerging market peers by 30 percentage points in less than six months, partly due to a favorable global landscape, analysts at the U.S. investment bank said in a Oct. 6 note. "India seems well placed to enter a new profit cycle which may result in earnings compounding at over 20% per annum for the next 3-4 years," the Morgan Stanley analysts said. They cited factors such as nascent signs of capital expenditure, "supportive government policy for higher corporate profit share in GDP and a robust global growth outlook." Between late March and early May this year, India suffered a devastating second wave of Covid infection that overwhelmed the country's health-care system . It led several institut