Bill Maldonado, chief investment officer (Asia Pacific) at HSBC Global Asset Management, said the Bharatiya Janata Party’s win has been factored in by foreign investors and a surprise in the outcome, if any, will only have a temporary impact on the Indian equity markets.
The rally will be driven by domestic flows, he told BloombergQuint in an interview. Yet, he said valuations don’t look cheap for Indian stocks. “We are looking for earnings improvement and investors want economic reforms to continue.”
Watch the video for the entire interview