Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     

MORGAN STANLEY

(MS)
  Report
Delayed Nyse  -  04:03 2022-09-30 pm EDT
79.01 USD   -1.06%
09/30Stocks Retreat Friday as Fed's Preferred Inflation Gauge Accelerates
MT
09/30Intel's Mobileye files for listing in first sign of thawing tech IPO market
RE
09/30Major Market Indexes End Friday Near Session Lows
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

India could emerge as Asia's strongest economy in 2022-23, says Morgan Stanley

08/10/2022 | 06:43am EDT
FILE PHOTO: Spread of the coronavirus disease (COVID-19) in Delhi

(Reuters) - India could emerge as Asia's strongest economy in 2022-2023 as it is best-positioned to generate robust domestic demand, helped by economic policy reforms, a young workforce and business investments, Morgan Stanley economists said.

The brokerage expects India's growth to average 7% for 2022-2023 and contribute 28% and 22% to Asian and global growth, respectively.

Morgan Stanley's projection comes as Asia's third-largest economy grew 9.2% in the fiscal year 2022, a sharp recovery from a 6.6% contraction in the previous year as COVID-19 lockdowns took a severe toll on its economy. The country now expects GDP growth for 2022-2023 at 8%-8.5%.

"Lower corporate taxes, the production-linked incentive (PLI) scheme and India as a potential beneficiary of supply chain diversification will catalyse and sustain domestic demand, especially in investment," the economists said in a note dated Tuesday.

In 2019, India had cut corporate tax rates to woo manufacturers and revive private inves
tment, and launched the PLI scheme in 2020 to aid domestic manufacturing. https://reut.rs/3QCZl5vreut.rs/3SFeRzp)

The brokerage sees risks related to higher energy prices, spurred by the Ukraine war and supply constraints, to remain, but added that they have begun to recede.

Morgan Stanley's outlook also comes as developed economies paint a glum picture, with business activity in the United States and eurozone contracting in July, as per their PMI data.

"The economy is set for its best run in over a decade as pent-up demand is being unleashed," the brokerage said, adding that "healthy" corporate balance sheets and business confidence bodes well for India's investment outlook.

While India, like other economies, raised interest rates to battle inflation, Morgan Stanley said the country's 39.45 trillion rupee ($529.7 billion) budget for the current fiscal year has continued to tilt towards lifting public investment.

It expects domestic consumption to pick up and services exports to hold up better than goods exports.

(Reporting by Siddarth S in Bengaluru; editing by Uttaresh.V)


© Reuters 2022
All news about MORGAN STANLEY
09/30Stocks Retreat Friday as Fed's Preferred Inflation Gauge Accelerates
MT
09/30Intel's Mobileye files for listing in first sign of thawing tech IPO market
RE
09/30Major Market Indexes End Friday Near Session Lows
MT
09/30Markets in Q3: Goldilocks fairlytale turns into bad bear nightmare
RE
09/30U.S. CFTC must seek admissions of wrongdoing from Wall Street, commissioner says
RE
09/30China Eases Some Mortgage Rates to Bolster Ailing Property Sector
MT
09/30Japan's 10-year government bond yield falls on hopes of higher BOJ buying
RE
09/29News Highlights: Top Global Markets News of the Day
DJ
09/29Morgan Stanley rates PMV as Equal-weight
AQ
09/29Morgan Stanley rates AGL as Equal-weight
AQ
More news
Analyst Recommendations on MORGAN STANLEY
More recommendations
Financials (USD)
Sales 2022 54 734 M - -
Net income 2022 11 495 M - -
Net Debt 2022 - - -
P/E ratio 2022 11,8x
Yield 2022 3,76%
Capitalization 136 B 136 B -
Capi. / Sales 2022 2,48x
Capi. / Sales 2023 2,35x
Nbr of Employees 78 000
Free-Float 65,6%
Chart MORGAN STANLEY
Duration : Period :
Morgan Stanley Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MORGAN STANLEY
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Last Close Price 79,01 $
Average target price 95,63 $
Spread / Average Target 21,0%
EPS Revisions
Managers and Directors
James Patrick Gorman Co-President & COO-Wealth Management
Andrew Michael Saperstein Co-President & Head-Wealth Management
Edward N. Pick Co-President
Sharon Yeshaya Chief Financial Officer
Anchal Dhar Vice President-Technology
Sector and Competitors
1st jan.Capi. (M$)
MORGAN STANLEY-19.51%135 646
THE CHARLES SCHWAB CORPORATION-14.54%135 263
THE GOLDMAN SACHS GROUP, INC.-22.60%95 365
CITIC SECURITIES COMPANY LIMITED-34.04%34 326
CSC FINANCIAL CO., LTD.-29.66%22 119
RAYMOND JAMES FINANCIAL, INC.-1.57%21 328