Credit Suisse positive on India; watching developments on oil

Credit Suisse positive on India for now, but closely watching developments on oil, said Dan Fineman, co-head-equity strategy-APAC, on Monday.

In an interview to CNBC-TV18, Fineman said, “There are a lot of positive factors that can help India power through; oil at USD 100/bbl. We are expecting big GDP upgrades, big EPS upgrades. You have got a property sector that is on the cusp, potentially of a multi-year rally. So for now, we are positive on India but we have to say that we have to be watching events and particularly what happens with oil prices.”

“Right now we think that probably oil is getting near to a peak that we probably are not going to be going up to USD 130/bbl, but our confidence level is not terribly high given the fluidity of events in eastern Europe,” he said.