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EQUITIES COMMENTARY
Oct 30, 2017
Spotlight on performance - The India model
Research Signals
Economic activity in India has recently been hampered by the double shock of demonetization and the introduction of the goods and services tax (GST). In light of the uncertainties added to the markets and the lingering effects on economic growth, we review the Research Signals India model which has a proven track record of providing alpha since its inception in May 2011 based on its design to exploit region-specific market attributes.
- Stocks ranked as buy candidates returned a monthly average of 1.75% from September 2006 through August 2017 on a market cap weighted basis, resulting in more than double the universe cumulative return over the full period
- The spread between top and bottom ranked stocks averaged 1.47% per month and was positive in two-thirds of months, including during the demonetization and GST events where spreads averaged 4.70%
- Stocks which were recently favored by the model include Reliance Inds and Bharti Airtel Ltd, while Alkem Lab Ltd was poorly ranked
S&P Global provides industry-leading data, software and technology platforms and managed services to tackle some of the most difficult challenges in financial markets. We help our customers better understand complicated markets, reduce risk, operate more efficiently and comply with financial regulation.
This article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.
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