Why the Indian Stock Market Is Undervalued

Jim Jubak MSN Money April 6, 2011

4/5/2011 4:00 PM ET

By Jim Jubak

True, blue chips from India are not cheap. But there is a host of emerging Indian companies that offer growth at a bargain price -- and I expect many of them to start trading in New York soon.

Related topics: stocks, emerging markets, value stocks, China, Jim Jubak

It comes with the territory: When people I meet while traveling discover that I manage money and write about the stock market, they always ask, "What's your favorite stock?"

So it was no surprise that on my recent trip to India, conversations with U.S. or European travelers would take that turn.

What was surprising was the exact form of the question. What they'd ask, specifically, was for me to name my favorite Chinese stock. And we'd be off on a discussion of dairy-and-food company Bright Food Group, or Internet search engine Baidu.com (BIDU, news), or China Railway Construction.

Indian stock market returns

In Mumbai, Kochi and Delhi, the question was always the same. Against a background of Mumbai's construction cranes, the surprising new high-rise skyline of Kochi and Delhi's ubiquitous ads for new schools of English, engineering and computer science, all that the Western travelers wanted to talk about was China.

It got downright perplexing. In the midst of an economic boom that is projected to see India's GDP grow by 9% in the fiscal year that ends in March 2012, no one wanted to talk Indian stocks?

Jim Jubak

And after a while it led me to wonder, if investor indifference was so pervasive, could India's stocks be undervalued?

For the Indian stocks that everybody knows today, and from a short-term perspective, I think the answer to that is "no." The familiar names, and the ones that it's actually possible for investors outside India to buy, aren't especially cheap, even though the Indian stock market was down 3.9% in 2011 as of April 4 and down 6.2% from its November 2010 high. Despite that decline, shares of Tata Motors (TTM, news) still sell for 26 times trailing 12-month earnings per share. That compares with a trailing 12-month price-to-earnings ratio for Ford Motor (F, news), of 8.3. India's Infosys Technologies (INFY, news) trades at a trailing P/E of 30. In the United States, Oracle (ORCL, news) trades at a trailing P/E of 21.

From a long-term point of view, however, I think the answer to whether Indian stocks are undervalued is "yes." At least that's the perspective that I came back with after my recent visit there. While the Indian stock market as it now exists isn't a particular bargain, the emerging Indian stock market is. Let me try to explain.

It's easy to understand why Western investors, especially Western investors who actually have been to India recently, should be so cool to the country as an investment option. Its economy struggles to stay afloat in a tidal wave of bureaucracy. (I still don't have a clue why my wife had to supply our marriage certificate in order to get a visa.) Hopes that Prime Minister Manmohan Singh would use his second term to reform the country's rules on foreign investment, remove layers of subsidies that stifle efficiencies in sectors such as food production and transportation, and overhaul the country's education system have been dashed by a wave of scandal that has left the government focused on little beyond its own survival.

And maybe most of all, there's just the sheer chaos of India's day-to-day economy. Shops crowd upon shops. Market streets are constantly in motion, with everyone selling something to someone. On the highways, trucks co-exist with cars and tractors, auto rickshaws and the occasional camel-drawn cart in a system that works -- to the degree that it does work -- only because everyone leans on their horns at every opportunity. Temples are wedged next to roadside restaurants, next to factories and next to recycling shacks. One day I saw two barefoot women treading mud into brick next to a factory that made backhoes.

Most of us have a bias toward order and organization. And by that metric, the reality of India just doesn't score as high as that of China, its big competitor.

That bias, however, can sell India short. Take this example:

Auto rickshaws, little three-wheeled, go-cart-sized cars (you might also know them as tuk-tuks from Bangkok), fill the streets of Indian cities, providing cheaper alternatives to taxis and faster, more convenient alternatives to buses. It's tempting to think of them as primitive -- they sure look ragged -- and a sign of India's under-development.

Continued: Don't be fooled by chaosSingle page12Next >RELATED ARTICLESEx-Berkshire executive is one lucky dogGrowing dealmaker has buyout cloutTime to buy stocks, not the marketInvesting: Stock market, money & financial investment advice - MSN ...Money: Personal finance & investing news & advice - MSN MoneyMarket Summary - MSN MoneyVIDEO ON MSN MONEY/* /**/ var scp_UserRating=-1; down_arrow_hover= new Image(); down_arrow_hover.src = 'http://blu.stc.s-msn.com/br/scp/css/15/decoration/toolbar/rating/down_hover.gif'; down_arrow_normal= new Image(); down_arrow_normal.src = 'http://blu.stc.s-msn.com/br/scp/css/15/decoration/toolbar/rating/down_normal.gif'; up_arrow_hover= new Image(); up_arrow_hover.src = 'http://blu.stc.s-msn.com/br/scp/css/15/decoration/toolbar/rating/up_hover.gif'; up_arrow_normal= new Image(); up_arrow_normal.src = 'http://blu.stc.s-msn.com/br/scp/css/15/decoration/toolbar/rating/up_normal.gif'; var scp_thankyoutext = 'Thank you!'; var scp_thankyoualttext = 'You have voted on this'; var scp_votestext = '{0} votes'; var scp_votescount = 10; var scp_errmsg = 'Errors occured while saving your rating. Please try again later.'; var scp_yesvotes = 8; var scp_jsurl='MSNRRV2.aspx'; var scp_jsargs='rrct\x3doE0QuuCFWRgt\x252fxpt\x252fkHSJs57VE1CLazX0d\x252bTwJqkFcL2bGg2NfKHVpqPgCXgbdIuIrNFHPGYOoZzzNHNTNKeOxd6Y5IoGLz3DPgKOWhmFwcBtv6V0H1gygGqptELSdNEAfXSzSR1sYRxz\x252b4d\x252fBuqIa44K84lD5PtK9quxmftW5E\x253d\x26values\x3dshFp7XlTQbexq2I491\x252fdUQ\x253d\x253d\x26rritemId\x3dTZsRd4pyoJ1qQ2wcthY8usa0\x252bueSxmhry0IBHBg15vDd\x252fdKAUlVCFDry\x252bX4F\x252fTEsmaHF1pR\x252fdQtWR71aIN4kaA\x253d\x253d\x26rrpurl\x3dhttp\x253a\x252f\x252fmoney.msn.com\x252finvesting\x252fwhy-india-is-undervalued-jubak.aspx'; var scp_itemid = 'scp\x3abbcdiscussion\x3ae63590de-0484-4b21-9ae4-208c7ddfda99'; function BinaryRatingToolBar(ratingValue){scpjs.socialToolbar._handleBinaryRating(ratingValue);} Recommend10 votes80% Rating: You recommend this20% Rating: You don't recommend this ToolBarUpdateRating('scp\x3abbcdiscussion\x3ae63590de-0484-4b21-9ae4-208c7ddfda99','ratCntrlBinary'); jQuery.async('scp', function () { jQuery.scp.socialToolbar({"partnerId":"e70689f0-2848-458a-b8ae-965c0aac79c8","jsUrl":"http://us.social.s-msn.com/s/js/16/ue.min.js","enabled":true,"previewMode":false,"contentId":"j7pyywrvhi0m9jbcc2xu2vuw4gd5t4bf","boardId":"00000065-02a6-0000-0000-000000000000","threadId":"e63590de-0484-4b21-9ae4-208c7ddfda99","urlParams":{"title":"","desc":"","image":"","url":"http://money.msn.com/investing/why-india-is-undervalued-jubak.aspx","s-url":"http://on-msn.com/hSZlYd"},"timesShared":43,"shareCountUrlBase":"http://social.msn.com/boards","settingsCookieDomain":"msn.com","showMiniTb":true,"showRatings":true,"showEmail":true,"showPrint":true,"showIM":false,"imagesDir":"","printUrl":"","sharingSites":[{"id":"1","name":"Messenger","icon":"http://media.social.s-msn.com/images/blogs/Messenger.png","smallIcon":"http://media.social.s-msn.com/images/blogs/Messenger-s.png","urlTemplate":"http://profile.live.com/badge?url=%7Bs-url%7D"},{"id":"2","name":"Facebook","icon":"http://media.social.s-msn.com/images/blogs/Facebook.png","smallIcon":"http://media.social.s-msn.com/images/blogs/Facebook-s.png","urlTemplate":"http://www.facebook.com/share.php?u=%7Bs-url%7D&t=%7Btitle%7D"},{"id":"3","name":"Twitter","icon":"http://media.social.s-msn.com/images/blogs/twitter.png","smallIcon":"http://media.social.s-msn.com/images/blogs/twitter-s.png","urlTemplate":"http://twitter.com/home?status=%7Bs-intro%7D"},{"id":"4","name":"Digg","icon":"http://media.social.s-msn.com/images/blogs/digg.png","smallIcon":"http://media.social.s-msn.com/images/blogs/digg-s.png","urlTemplate":"http://digg.com/submit?partner=MSN&url=%7Bs-url%7D&title=%7Btitle%7D"},{"id":"5","name":"Yahoo Buzz","icon":"http://media.social.s-msn.com/images/blogs/Yahoobuzz.png","smallIcon":"http://media.social.s-msn.com/images/blogs/Yahoobuzz-s.png","urlTemplate":"http://buzz.yahoo.com/buzz?src=MSN&targetUrl=%7Bs-url%7D&headline=%7Btitle%7D"},{"id":"6","name":"LinkedIn","icon":"http://media.social.s-msn.com/images/blogs/linkedin.png","smallIcon":"http://media.social.s-msn.com/images/blogs/linkedin-s.png","urlTemplate":"http://www.linkedin.com/shareArticle?mini=true&url=%7Burl%7D&title=%7Btitle%7D"},{"id":"7","name":"MySpace","icon":"http://media.social.s-msn.com/images/blogs/Myspace.png","smallIcon":"http://media.social.s-msn.com/images/blogs/Myspace-s.png","urlTemplate":"http://www.myspace.com/Modules/PostTo/Pages/?u=%7Bs-url%7D&t=%7Btitle%7D"},{"id":"8","name":"Google Bookmarks","icon":"http://media.social.s-msn.com/images/blogs/GoogleBookmarks.png","smallIcon":"http://media.social.s-msn.com/images/blogs/GoogleBookmarks-s.png","urlTemplate":"http://www.google.com/bookmarks/mark?op=add&bkmk=%7Bs-url%7D&title=%7Btitle%7D"}],"locale":"en-us","miniTbPositionRef":"ahead","strings":{"lc_rdcmnts":"Read comments","lc_addcmnt":"0","lc_rec":"Recommend","lc_eml":"Email","lc_shrintro":"I thought you would be interested in this: {0}","lc_im":"IM","lc_mor":"More","lc_ncmts":"{0}","lc_prt":"Print","lc_shr":"Share","lc_shrn":"Shared {0} times","lc_shrt":"Share","lc_vts":"{0} votes","lc_ivno":"You don\u0027t recommend this","lc_ivyes":"You recommend this","lc_yvno":"You didn\u0027t recommend this","lc_yvyes":"You recommended this","lc_ratingadded":"Thank you!","lc_ratingerr":"Could not add rating","lc_alrdyvote":"You have voted on this","lc_defml":"Email program","lc_hotml":"Hotmail","lc_gml":"Gmail","lc_yml":"Yahoo! Mail"},"omniAccount":"MSNPORTALSCP","ratingsControlId":"ratCntrlBinary","ratingsItemId":"scp:bbcdiscussion:e63590de-0484-4b21-9ae4-208c7ddfda99","appUri":"http://social.msn.com/boards","pageUrl":"http://money.msn.com/investing/why-india-is-undervalued-jubak.aspx","ratingTags":["00120065-0000-0000-0000-000000000000","00000065-02a6-0000-0000-000000000000","ART"],"fblkShow":true,"fblkAppId":"","fblkRef":"","fblkTrkName":"","fblkTrkVal":"","twtShow":false,"twtTrkName":"","twtTrkVal":""}); }); /**/ 0CommentsjQuery.async('scp', function () { jQuery.scp.comments({"partnerId":"e70689f0-2848-458a-b8ae-965c0aac79c8","jsUrl":"http://us.social.s-msn.com/s/js/16/ue.min.js","strings":{"lc_shw":"true","lc_dtf":"%M/dd/yyyy %h:mm tt","lc_dtf2":"ddd %h:mm tt","lc_gmt":"-5","lc_erg":"Comments are currently unavailable. Try again later.","lc_det":"Comments are unavailable on this page.","lc_pgf":"{0} of {1}","lc_1ach":"Comment","lc_ach":"Comments","lc_newm":"Newest","lc_oldm":"Oldest","lc_bestm":"Best","lc_worstm":"Worst","lc_mixedm":"Controversial","lc_prv":"Previous page","lc_nxt":"Next page","lc_pageNumTooltip":"Enter a page number, and then press the Enter key","lc_first":"First page","lc_last":"Last page","lc_rpl":"Reply","lc_rbs":"Report","lc_edt":"Edit","lc_del":"Delete","lc_pstthanks":"Thanks for posting to","lc_pstand":"{0} and {1}","lc_seemore":"More","lc_seeless":"Less","lc_rpttxt":"Thank you for reporting.","lc_msg2mod":"Send note to moderator"¦","lc_cc0":"Please help us to maintain a healthy and vibrant community by reporting any illegal or inappropriate behavior. If you believe a message violates the","lc_cc1":"Code of Conduct","lc_cc2":"please use this form to notify the moderators. They will investigate your report and take appropriate action. If necessary, they report all illegal activity to the proper authorities.","lc_cat":"Categories","lc_spa":"Spam","lc_che":"Child pornography or exploitation","lc_pro":"Profanity, vulgarity or obscenity","lc_cor":"Copyright infringement","lc_har":"Harassment or threat","lc_usrpic":"Inappropriate user picture","lc_oth":"Other","lc_abc":"Additional comments","lc_opt":"(optional)","lc_atl":"100 character limit","lc_rep":"Report","lc_1hourm":"1 hour ago","lc_1minm":"1 minute ago","lc_recomm":"You recommend this","lc_recomdontm":"You don\u0027t recommend this","lc_voted":"You have voted on this","lc_suicide":"Threats of suicide","lc_joi":"Be the first to comment","lc_shwm":"Show comments","lc_hidem":"Hide comments","lc_hourm":"{0} hours ago","lc_minm":"{0} minutes ago","lc_secm":"{0} seconds ago","lc_add":"Add a comment","lc_dmg":"Are you sure you want to delete this comment?","lc_dok":"Delete","lc_dca":"Cancel","lc_pna":"There\u0027s a problem creating posts right now. Please try again later.","lc_clt":"This discussion is closed. New comments cannot be posted.","lc_fta":"Be the first to comment","lc_fsg":"Be the first to add a comment. To add a comment, please","lc_sgn":"sign-in","lc_lnk":"Read comments","lc_spell_gen_err":"Could not check spelling. Please try again later.","lc_spell_no_mist":"No spelling errors found.","lc_spell_num_mist":"Spell check detected {0} mistake(s).","lc_spell_in_prog":"Spell check in progress...","lc_spell_check":"Check Spelling","lc_post_gen_err":"There's a problem creating posts right now. Please try again later.","lc_post_long":"Post cannot be longer than {0} characters.","lc_post_empty":"Your post cannot be empty.","lc_cmnt_day_max":"You already reached the daily limit for posts today. Please post again tomorrow.","lc_post_prog":"Post in progress...","lc_post":"Post","lc_save":"Save","lc_not_auth":"You are not signed in.","lc_no_suggest_paren":"(No suggestions)","lc_ignore_paren":"(Ignore)","lc_insrt_emot":"Insert Emoticon","lc_cancel":"Cancel","lc_ok":"OK","lc_fmt_quote":"Format as Quote","lc_incr_indnt":"Increase Indent","lc_decr_indnt":"Decrease Indent","lc_bullets":"Bullets","lc_numbering":"Numbering","lc_italic":"Italic (CTRL+I)","lc_bold":"Bold (CTRL+B)","lc_post_dirty":"Edits you have made to your post will be lost.","lc_rte":"Rich Text Editor","lc_ip_banned":"The computer or device you are using is temporarily banned from posting on this site. People or automated programs have recently used this computer or device to create unwanted posts. You may still browse the site and read other people's posts, but you can't create, edit, or delete posts.","lc_chk_msg_spell":"Check message for spelling errors (F7)","lc_post_msg":"Post this message (CTRL+ENTER)","lc_perm_ban":"This Windows Live ID was banned for violating the Code of Conduct. You may still read other people's posts, but you can't create, edit, or delete posts.","lc_temp_ban":"This Windows Live ID is banned from posting on this site until {0}. You may still read other people\u0027s posts, but you can\u0027t create, edit, or delete posts.","lc_also_pst_fb":"Facebook","lc_also_pst_wl":"Windows Live","lc_also_post_to":"Also post to:","lc_idnt_settings_err":"Could not save your settings. Try again later.","lc_idnt_nick_prohibited":"The nickname you requested is not allowed. It may contain a reserved name or profanity. Please enter another nickname.","lc_idnt_nick_unavail":"The nickname you requested is not available. Please enter another nickname, or select one of these suggestions:","lc_idnt_nick_empty":"Nickname cannot be empty","lc_idnt_nick_max_len":"Nickname cannot be longer than {0} characters","lc_idnt_nick_allowed_chars_err":"You nickname may only contain letters, numbers, hyphens, underscores, and periods. Please enter another nickname.","lc_idnt_lnk_msn_wl":"Link your MSN posts to your profile on Windows Live","lc_idnt_posting_name":"Now when you post with your \u003cstrong\u003ename\u003c/strong\u003e, all of your past and future MSN posts link to your profile on \u003ca href=\"{0}\"\u003eWindows Live\u003c/a\u003e so your friends can read them.","lc_idnt_posting_nick":"If you keep posting with your \u003cstrong\u003enickname\u003c/strong\u003e, your posts aren't connected to your profile on Windows Live.","lc_idnt_name_nxt_psts":"The name you choose appears next to all of your past and future MSN posts.","lc_idnt_post_w_name":"Post with my name","lc_idnt_kp_post_w_nick":"Keep posting with my nickname","lc_idnt_chs_name":"Choose the name that appears next to your posts","lc_idnt_name_lnk_wl":"If you post using your name, your posts link to your profile on \u003ca href=\"{0}\"\u003eWindows Live\u003c/a\u003e so your friends can read them.","lc_idnt_nick_no_wl":"If you create a nickname, your posts are not publicly connected to your profile on Windows Live.","lc_idnt_post_w_nick":"Post with a nickname","lc_idnt_enter_nick":"Enter nickname","lc_idnt_post_w_yr_name":"Post with your name","lc_idnt_mst_use_name":"You must now use your name when you post here.","lc_idnt_note_post_w_name":"Note: When you post using your name, your posts link to your profile on \u003ca href=\"{0}\"\u003eWindows Live\u003c/a\u003e so your friends can read them.","lc_continue":"Continue","lc_idnt_create_nick":"Create a nickname","lc_idnt_nick_nxt_pst":"Your nickname appears next to your posts on MSN.","lc_idnt_nick_allowed_chars":"Nicknames may contain letters, numbers, hyphens, underscores, and periods.","lc_cmnt_unavail":"Commenting is currently not available. Try again later.","lc_loading":"Loading...","lc_signin":"Sign in","lc_signin_create":"Sign in with your Windows Live ID, or create a new one.","lc_spam_msg":"Your post was blocked because it has a hyperlink or appears similar to spam. Please revise your post and try again.","lc_wrt_cmnt":"Write a comment...","lc_avtr_pic":"User Picture","lc_edit_cmnt_err":"Could not load comment for editing. Try again later."},"isCommentShow":"true","_p":"","locale":"en-us","forumId":"00120065-0000-0000-0000-000000000000","forumTitle":"MSN Money","boardId":"00000065-02a6-0000-0000-000000000000","boardTitle":"ArticleComments","threadId":"e63590de-0484-4b21-9ae4-208c7ddfda99","title":"Article Comment","userId":"b5e44170581cc833","contentId":"j7pyywrvhi0m9jbcc2xu2vuw4gd5t4bf","pageUrl":"http://money.msn.com/investing/why-india-is-undervalued-jubak.aspx","appUri":"http://social.msn.com/boards","cssBaseUrl":"unused","emoticonBaseUrl":"http://us.social.s-msn.com/s/","responseBridgeUrl":"http://money.msn.com/ResponseBridge.aspx","cmntSharingOn":true,"cmntSharingNetworks":[{"id":0,"locKey":"lc_fb","tooltipLocKey":"lc_also_pst_fb"},{"id":1,"locKey":"lc_wl","tooltipLocKey":"lc_also_pst_wl"}],"omniAccount":"MSNPORTALSCP","currentPage":1,"totalPages":0,"sortOrder":0,"isAuth":false,"signInUrl":"https://login.live.com/login.srf?wa=wsignin1.0&rpsnv=11&ct=1302082066&rver=6.1.6195.0&wp=MBI&wreply=http:%2F%2Fmoney.msn.com%2Finvesting%2Fwhy-india-is-undervalued-jubak.aspx&lc=1033&id=250710","genericAvatarUrl":"http://us.social.s-msn.com/s/images/bluemann.png","settingsCookieDomain":"msn.com"}, false, true, true); });DATA PROVIDERS

Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.

Fundamental company data and historical chart data provided by Thomson Reuters (click for restrictions). Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Gradient Analytics. IPO data provided by Hoover's Inc. Index membership data provided by SIX Telekurs.

Japanese stock price data provided by Nomura Research Institute Ltd.; quotes delayed 20 minutes. Canadian fund data provided by CANNEX Financial Exchanges Ltd.

$.dap("&PG=INVIHP&AP=1089",300,250,"dapAd2");FeedbackMARKET UPDATEUSINTERNATIONALNAMELASTCHANGE% CHANGEThere's a problem getting this information right now. Please try again later.NAMELASTCHANGE% CHANGEThere's a problem getting this information right now. Please try again later.

[BRIEFING.COM] Stocks overcame some choppy trade in the early going to stage a nice advance, but the move eventually lost momentum, leaving the major averages to roll over. ... More

More Market NewsStock TickerStory StocksIn PlayShort StoriesCurrenciesNAMELASTCHANGE% CHANGEThere's a problem getting this information right now. Please try again later.See more currenciesRECENT QUOTES/*WATCHLIST/*SymbolLastChangeSharesWatchlist optionsUpdate quotesClear this listView full pageWhere's my listHelpQuotes delayed at least 15 minSponsored by:$.dap("&PG=INVSRQ&AP=1025",120,30,"quotead");RECENT ARTICLESWhy India is undervalued10 companies for 'Project Japan'5 battle-tested funds for 401k'sAusterity? Not when we have bailoutsA tale of 2 earnings seasonsJIM JUBAKWhy India is undervalued3 keys to China's 3 stock marketsThe perversity of Japan's financesBond king Gross dumps TreasurysGet set to invest in the new ChinaMORE FROM BINGCan your boss check your credit score?Income tax deductions you may have missedEasy ways to boost your gas mileageHot growth stocks for 2011Considering buying a home on short sale?Perils of plastic: Credit card horror storiesTODAY's MSN STAFF PICKSREAL ESTATE

Top 10 markets for foreclosure flipping

10 golfers who could win the MastersBat epidemic could cause rise in grocery budgetBing: Eagle webcam becomes online sensationPrivacyLegalAdvertiseMSN WorldwideHelpAbout our adsFeedbackSite MapRSS© 2011 Microsoft/* ({0})",msgr:"a.msgr",maxcount:9999,axob:"MSNMessenger.Hotmail2Control"});a(b).channelheaderflyout({delay:{open:500,close:50}});a("a.inbox").hotmaillivemenu({hotmailcalendertext:"Calendar"});a("div.websearch2").togglesearchtext({searchInputBoxId:"q4"});a("div.websearch2 form").bindSearch2();a(".myhp").setHomepage({url:"http://www.msn.com",txt:"Make MSN your homepage"})},a.jsUrl)})})(jQuery);jQuery("a.openpopup").async("openPopup");(function(a){a(function(){a.async("asyncCanary",function(){a(".ptnrcnt1").partnerhostedcontentfeature()},a.jsUrl)})})(jQuery);(function(a){a(function(){a.async("asyncCanary",function(){a.lazyLoad.timeout=6e4;a.cookie+=";MUID=";a(".cogr.coss").slideshow({delay:7e3});a(".cogr.cotb").tabGroup({hover:{delay:300}});a("div.ivideo").async("inlinevideo",[{param:{windowless:"true"},asyncp:1}])},a.jsUrl)})})(jQuery);jQuery("a.opennew").async("openNew");jQuery(".pageoptions1").async("pageOptions");jQuery(".pageoptions1 #ausug").async("autoSuggest",[{helpLinkText:"What is this popup",helpLink:"http://help.live.com/help.aspx?project=wl_searchv1&querytype=keyword&query=sihggus&mkt=en-US",formCode:"MSMONY",openNew:"0",market:"en-us",cookieDomain:null,cookiePath:null,inputId:"q4"}]);jQuery(".quotesearchbar0").async("quoteSearchBar");jQuery(".quotesearchbar1").async("quoteSearchBar");jQuery(".quotewatchlist0").async("quoteWatchList0");jQuery(".recentquotes0").async("recentQuotes0");jQuery(".stkscoutrating2").async("financefundamentals");(function(b){var a=b("#nav .breaknews1");if(a.text().length==0)a.css("display","none")})(jQuery)//]]>/*

Most of us have a bias toward order and organization. And by that metric, the reality of India just doesn't score as high as that of China, its big competitor.

That bias, however, can sell India short. Take this example:

Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.

Japanese stock price data provided by Nomura Research Institute Ltd.; quotes delayed 20 minutes. Canadian fund data provided by CANNEX Financial Exchanges Ltd.

[BRIEFING.COM] Stocks overcame some choppy trade in the early going to stage a nice advance, but the move eventually lost momentum, leaving the major averages to roll over. ... More

Top 10 markets for foreclosure flipping

Read Full Article »

Comment

Show comments

Why the Indian Stock Market Is Undervalued

Related Articles