Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

Narendra Modi's touch: Gujarat-based cos continue to outperform benchmark indices

May 15 2014, 10:40 IST
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The Adani Enterprises scrip has surged a whopping 253% since September last year. Reuters The Adani Enterprises scrip has surged a whopping 253% since September last year. Reuters
SummaryAdani Enterprises scrip has surged a whopping 253% since September last year.

Gujarat-based companies continue to outperform benchmark indices and broad markets by a wide margin amid hopes the Bharatiya Janata Party’s (BJP) prime ministerial candidate Narendra Modi will come to power and revive growth, which has dropped to a decade-low. The Adani Enterprises scrip has surged a whopping 253% since September last year. About 17% of its gains have come in the previous four sessions, during which the Sensex has risen about 7%. The party started even before the exit poll results were announced on Monday. Blue-chip shares, including that of Reliance Industries, have surged nearly 10% in the last four sessions. In fact, Mukesh Ambani's wealth has increased by $1.68 billion, rising almost $800 million on Tuesday — his net wealth now stands at roughly $25.5 billion. Some big institutions that have tracked the elections and conducted their own surveys after the May 7 phase feel the BJP-led NDA is likely to win 272 seats — the magic figure needed to form a majority government. The results will be announced on May 16.

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