Deutsche Bank upgrades Indian stocks to â€˜overweightâ€™ - Money Matters - livemint.com Mumbai: Deutsche Bank upgraded Indian stocks to â€œoverweightâ€ from â€œneutralâ€ saying the market is close to its cheapest in two decades on an EBITDA and sales perspective. The upgrade comes after J.P.Morgan upgraded Indian stocks to â€œoverweightâ€ last week. â€œThe angst over falling Indian economic growth is so yesterday,â€ wrote strategist Ajay Kapur in the report dated on Wednesday. â€œWe think a risk-on environment could see a return to value,â€ he added. Kapur said sentiment for India is â€œin panic modeâ€ even as historical valuations have become attractive and technicals are robust. Deutsche Bankâ€™s India strategists have an end-year target for the BSE index at 18,000 points. The index last gained 0.55% to 16,999.70 points. Meanwhile, Standard Chartered said that it sees an upside in some Indian stocks in which bad news have had a â€œdisproportionate impactâ€. The bank identifies potential gainers as: ACC and Ambuja Cements ; mobile operators Bharti Airtel and Idea Cellular ; gas utilities Petronet LNG and GAIL ; road builder IRB Infrastructure ; and tyre maker Apollo Tyres. By contrast, drug makers Sun Pharmaceutical Industries and Cipla have not priced in enough of the potential impact from the governmentâ€™s move to more closely regulate drug pricing. â€œThe current despairâ€ over governmental and institutional decision making has led to â€œirrational fearsâ€ and/or â€œstocks being pummelled multiple times for the same news,â€ StanChart says.