Small India investors snag beaten-down stocks

Retail investors: A man walks inside the Bombay Stock Exchange in Mumbai. India’s mom-and-pop investors are piling into beaten-down stocks such as financials, telecom and high-quality drugmakers. — Bloomberg

MUMBAI: The resurgence in Indian equities despite the economic impact from the still-spreading coronavirus has bewildered professional investors.

Mom-and-pop investors, though, are all in. They’re piling into beaten-down stocks such as financials, telecom and high-quality drugmakers amid expectations that Asia’s third-largest economy may recover faster than expected as it gradually unlocks from the world’s biggest lockdown.