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Market rally: Foreign brokerages raise their pitch on Modi’s election win

Just a month after investment bank Goldman Sachs upgraded Indian equity markets on hopes of a Narendra Modi-led BJP forming the next government, leading foreign brokerages CLSA and Credit Suisse too see prospects of significant gains in the market the run-up to the general elections early next year. The assumption is that the new government will act in a decisive manner and introduce bold new reforms. AFP For instance on November 10 Christopher Woods, chief equity analyst at CLSA Asia-Pacific markets said, “The forthcoming Indian elections is going to be the most important political event for investors in Asia next year. The perception of investors is that the investment cycle in India is partly driven by government policies and changes.” The brokerage has added one more percentage point to the small India overweight in the Asia Pacific ex-Japan relative-return portfolio primarily  because of the potential catalyst provided by the forthcoming state elections. “It certai...
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Kejriwal finds no wrong in forging alliance with corrupt Congress

Arvind Kejriwal, who once was against taking Congress’s support, and got votes for the same in Delhi poll, has suddenly changed his stance saying there is nothing wrong in forming the Government in the State. On the issue of Government formation, the Aam Aadmi Party convener Kejriwal was quoted as saying, “It is a political question now… whether or not we form Government … there is nothing unethical about it now.” Earlier on Friday, AAP leader Manish Sisodia said that there were indications that people of Delhi want the party to form the Government but any final decision will be taken only after the result of referendum comes. Sisodia, who won from Patparganj seat, and few other party leaders have been holding a series of public meetings to get the perception of people on whether AAP should form a Government with the support of Congress. “There are indications that people want AAP to form the Government, but the final decision will be take only after the result of refer...
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ORG poll: BJP to retain Madhya Pradesh and Chhattisgarh, to wrest Delhi and Rajasthan from Congress

The winter of 2013 is going to be colder for the Congress. The India Today Group-ORG opinion poll in four states going in for the December verdict predicts a resurgent Bharatiya Janata Party taking all. The survey conducted in Madhya Pradesh, Rajasthan, Chhattisgarh and Delhi (Mizoram, which also goes to vote, has not been covered in this survey) shows that the BJP is reaping the dividends of better investment in leadership. (Article continues below) ( L) Chhattisgarh's Raman Singh, Rajasthan's Vasundhara Raje, Madhya Pradesh's Shivraj Singh Chouhan and Delhi's Dr Harsh Vardhan The last few years have been hard for India with the growth rate slipping along with the currency looking to be in freefall and inflation climbing through the roof. A series of scams involving vulgar amounts of money left us stunned. The taint went deeper than imagined. It hit at the very confidence which added steel to the frame of bureaucracy, forcing India into a shell of policy p...
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