India to remain a top pick among emerging markets: CLSA

India remains one of the few attractive emerging markets due to its stable macro environment amid China-led global volatility.

CLSA says potential redemptions remain the key risk to flows, but with inadequate choices elsewhere, FIIs will likely remain overweight on India or might even raise holdings.

Foreign selling of Asia ex-Japan has eased, with India in the lead.

Of the stocks that corrected recently, CLSA says incremental interest is seen in ICICI Bank.

It adds that companies do not see an on-the-ground recovery yet but remain optimistic.

CLSA says its meetings with policymakers in Delhi last week suggest the Government is committed to infrastructure development and several developments are underway.

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