The stock market is likely to climb substantially higher in 2010, if corporate India manages to raise up to $15 billion (about Rs 74,000 crore) over the next few months, a latest Credit Suisse report says.
As per financial service major Credit Suisse's India market strategy report, a host of companies, including Aditya Bira Nuvo, Bajaj Hindusthan, Adani Power, are planning to tap the capital markets in the coming months through various routes including private placement and preferential allotments.
"If Indian companies succeed in raising $10-15 billion over the next few months, even if equity markets were to reverse later in the year on global factors or on domestic policy tightening, corporate fundamentals could be on the way for market to be substantially higher in 2010," Credit Suisse research analyst Nilesh Jasani said in a report.
The report advised investors, who are confident of the political outcome and global rally, to pick from the list of companies about to finish funding.
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