But Raamdeo Agrawal has a message for them: forget about all that noise.It’s the economy, stupid, says Agrawal, who built Motilal Oswal Financial Services Ltd. into a $2.3 billion firm. In the veteran stock picker’s view, it doesn’t even matter who becomes the country’s next leader, because the economy will grow anyway. And that means, quite simply, that India’s equities are a buy.“Whatever you do to the economy, growth doesn’t dip below 5.5 to 6 per cent,” Agrawal said in an interview in Mumbai . Adding to the concern are cracks in the popularity of Prime Minister Narendra Modi’s Bharatiya Janata Party before state polls starting in May. A change in political expectations may undermine a rally that’s almost doubled the nation’s stock values since Modi took office in May 2014, UBS Securities India Pvt.

Source: Economic Times April 13, 2018 04:18 UTC