'One-trick pony' India worth investment risk for Nomura

London

NOMURA Asset Management says India's stock market is overcrowded and its economy, Asia's third-biggest, is hobbled by a drop in infrastructure investment. Yet, the money manager can't stop buying the nation's shares.

Companies such as private insurers and diagnostic firms offer opportunities for investors chasing businesses that are riding the services boom, said Vipul Mehta, who this year has returned 33 per cent to beat 98 per cent of peers with the Dublin-traded India Equity Fund.