New Delhi, June 5 -- The recent report by Morgan Stanley, named "India Equity Strategy Playbook", reveals that Indian equities appear undervalued, presenting a compelling opportunity for long-term investors.

According to the report, "it will require patience, given the potential for bad news from outside India, but we believe rewards will come in time."

The Equity market of India has shown resilience since September 2024, digesting a lot of unprecedented amount of bad news, which includes overvaluations in small and mid-cap stocks (SMIDs), a broad market correction, US tariff volatility, and geopolitical events. Despite these hurdles, large-cap indexes remain within 5 per cent of all-time highs.

However, the report also points out vari...