Foreign equity funds pile into Indian financials as credit cycle picks up

Indian shares are trading at a record-high valuation premium to their Asian counterparts, BNP Paribas said, but overseas investors have found a bright spot in financials, considering them relatively cheap given their strong fundamentals. The optimism is reflected in inflows, with foreign investors buying a net of $1.74 billion worth of Indian financial stocks in November, data showed. https://ift.tt/9nm657a