Can India Outperform Again in 2015?
This year India actually entered the top 10 largest global markets, as measured by market capitalization. India contributed 2.39% out of the total global market capitalization in 2014. In the previous year, the country contributed 1.83%.
The small-cap index rose to a seven-year high, while trading down just 20% from its 2008 highs.
iShares MSCI India (BATS: INDA) was recorded as the third best-performing index in the world for 2014. The exchange traded fund (ETF) recently traded at $30.40, in a 52-week range of $22.79 to $32.38. At the same time, the MSCI India’s price-to-earnings ratio rose to a four-year high, while relative valuations rose to a three-year high.
Indian debt rating upgrades exceeded downgrades by the largest amount in three years.
In previous years the Bombay Sensex had recorded gains of:
- 93% in 1985
- 82% in 1991
- 46% in 2006
- 47% in 2007
- 81% in 2009
24/7 Wall St. has also included a few other predominant Indian stocks and added some color: recent prices, the 52-week range, 2014 performance and consensus target prices where applicable.
iShares India 50 (NASDAQ: INDY) traded Friday at $30.38, against a 52-week trading range of $21.50 to $32.02. It recorded a gain of 28% in 2014.
India Fund Inc. (The) Common S (NYSE: IFN) traded at $26.34, in a 52-week range of $18.70 to $29.50. It had a gain of 38% in 2014.
WisdomTree India Earnings ETF (NYSEMKT: EPI) traded at $22.34, compared to a 52-week trading range of $15.71 to $23.64. This ETF saw a gain of 29% in 2014.
Tata Motors Ltd. (NYSE: TTM) traded at $43.75, against a 52-week trading range of $26.47 to $48.88. The consensus analyst price target is $47.09. In 2014, Tata recorded a gain of 38%.
ICICI Bank Ltd. (NYSE: IBN) traded at $12.06, in a 52-week trading range of $6.19 to $12.32. The consensus price target is $13.30. The stock gained 58% in 2014.
Infosys Ltd. (NYSE: INFY) traded at $31.75, against a 52-week trading range of $25.03 to $35.18. It has a consensus price target of $29.54. In 2014 the stock gained 13%.