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  1. AAP humiliates BJP in Delhi: 5 points why Narendra Modi will rush economic reforms

AAP humiliates BJP in Delhi: 5 points why Narendra Modi will rush economic reforms

'Despite AAP win vs BJP in Delhi Assembly elections, Narendra Modi stick to fiscal reforms.'

By: | New Delhi | Updated: February 11, 2015 1:17 PM
Aam Aadmi Party, Aam Aadmi Party Arvind Kejriwal, Arvind Kejriwal, Arvind Kejriwal economic reforms, Narendra Modi, Narendra Modi BJP, Narendra Modi economic reforms

Aam Aadmi Party (AAP) chief Arvind Kejriwal with Manish Sisodia and Union Urban Development Minister M Venkaiah Naidu in New Delhi. (PTI)

The PM Narendra Modi-led Bharatiya Janata Party (BJP) may have suffered a humiliating loss to Arvind Kejriwal’s Aam Aadmi Party (AAP) in the Delhi Assembly elections, but that is unlikely to deter him from going ahead with his economic reforms agenda, say investment banks.

Fact: An upstart anti-establishment party crushed India’s ruling BJP in a Delhi state election on Tuesday.

Fallout: Delhi election defeat raised fears BJP might now renege on some fiscal reforms – Traders

Here are the key points why:

1. Prime Minister Narendra Modi-led BJP will stick to fiscal discipline despite Delhi election loss as that is what he promised and that is the lesson to be drawn from the Delhi Assembly rout of Kiran Bedi-led BJP by Arvind Kejriwal’s AAP – Analysts

2. Delhi elections could spur faster activity to ensure the reforms’ impact is visible before the next election cycle – Edelweiss

3. Upcoming state elections in Bihar, Tamil Nadu, West Bengal key for BJP – Analysts

4. It’s a wake-up call for government. The sharp fall in crude oil prices should be used in infrastructure to kick-start the economy – Macquarie

5. Macquarie adds ongoing correction provides a good opportunity to buy before the budget on Feb. 28

Stocks To Buy

1. Macquarie says industrial stocks are under-owned and will be big beneficiaries of a government-led infrastructure build

2. Adds buy Larsen & Toubro, Crompton Greaves , IRB Infrastructure and JSW Energy

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