--- title: "随着印度经济增长势头增强，成长股成为优于价值股的选择" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/278919075.md" description: "印度的经济增长促进了成长股的发展，MSCI 印度成长指数在过去一年中上涨了 19.9%，超过了 MSCI 印度价值指数的 12.6%。2026 财年的 GDP 增长预测现在为 7.6%。专家建议保持谨慎，认为具有高潜力且估值合理的公司可能表现更好。地缘政治紧张局势，特别是在西亚，可能会影响油价和外资投资，导致市场波动。尽管如此，一些分析师认为，在调整期间，成长股可能会提供买入机会" datetime: "2026-03-11T19:32:17.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/278919075.md) - [en](https://longbridge.com/en/news/278919075.md) - [zh-HK](https://longbridge.com/zh-HK/news/278919075.md) --- # 随着印度经济增长势头增强，成长股成为优于价值股的选择 The MSCI India Growth Index ended February with gains of 19.9 per cent on a rolling 12-month basis, compared to 12.6 per cent for the MSCI India Value Index. If it holds, the lead for the financial year ending March 2026 (FY26) will be wider than seen in FY25. The MSCI India Value Index return was 1.9 per cent for the 12 months ending March 2025, compared to 6.4 per cent for the MSCI India Growth Index over the same period. The government’s updated methodology estimates gross domestic product (GDP) growth at 7.6 per cent for FY26, outpacing the 7.4 per cent projected under the previous calculation. **What explains the outperformance of growth stocks?** Broadly, a growth strategy in stock markets targets companies with the potential to expand their business faster than average, operating on the premise that these gains will translate into higher returns even if valuations are high. A value strategy buys stocks trading at relatively inexpensive valuations — for example, a company trading at less than the value of its assets — though some investors also argue the divide is not necessarily binary. Value narrowly outperformed growth in the past two months but it has largely been an underperformer since 2023, according to a Business Standard analysis. It looked at returns on a rolling 12-month basis to get a clearer idea of gains irrespective of starting and ending points. **Why are market experts advising caution?** Market experts advise caution Amnish Aggarwal, director of research (institutional equities) at PL Capital, said that this may not be a juncture at which growth will outperform at any cost. Companies which exhibit high potential and are available at reasonable valuations will likely do better, even as growth may continue to do well as a theme overall. “Market loves growth,” he said. **How could geopolitical tensions affect markets?** Geopolitical factors may play a role in the days ahead. The US and Israel are at war with Iran, pushing up oil prices and putting West Asia in turmoil. India imports more than 85 per cent of its crude oil requirements and higher prices may affect the economy. War also discourages foreign investor risk appetite and can impact flows. Foreign portfolio investors in Indian markets have been net sellers by nearly Rs 70,000 crore in FY26. “In times of global risk aversion, value tends to do better,” said Nilesh Shetty, portfolio manager at Quantum Advisors, a value-focused investment manager. Indian markets slipped around 1 per cent in their initial reaction after the attacks on Iran on February 28, suggesting that the conflict was not expected to be prolonged. There could be significant downside if events turn out otherwise, according to Shetty. Several growth stocks, including platform companies, are trading at attractive valuations. Further market corrections could lead to more buying opportunities, said Shetty, who is sitting on 7 per cent cash in a $2-billion portfolio. “….markets may be volatile over the coming weeks but would likely thereafter start to refocus on positive global economic fundamentals,” according to a March 1 UBS Investment Research note from Global Wealth Management chief investment officer Mark Haefele. ### 相关股票 - [SMIN.US](https://longbridge.com/zh-CN/quote/SMIN.US.md) - [CI2U.UK](https://longbridge.com/zh-CN/quote/CI2U.UK.md) ## 相关资讯与研究 - [眼镜零售商 National Vision 将出席威廉布莱尔成长股大会，一季度高端化战略成效显著](https://longbridge.com/zh-CN/news/287070493.md) - [摩根资管：全球股市的赢家不仅局限于人工智能](https://longbridge.com/zh-CN/news/286491802.md) - [知名投行警示：高度捆绑美股，美国经济已成 “AI 杠杆豪赌”](https://longbridge.com/zh-CN/news/287145647.md) - [市场极致分化时，别让账户只剩一种风格](https://longbridge.com/zh-CN/news/286706527.md) - [关于中国大类资产的轮动顺序兼论成长牛市的下一站](https://longbridge.com/zh-CN/news/285807947.md)