FLIN - INDA: Keep Calm And Stay Long India
2024-07-09 17:05:29 ET
Summary
- India's election season may be over, but equities are not short of tailwinds.
- The overall macro/micro setup also remains as compelling as ever.
- Even at a slightly higher valuation, it's difficult to look past iShares MSCI India ETF.
Quite a few significant changes have taken place in India since I last covered the flagship US-listed India tracker fund, iShares MSCI India ETF ( INDA ) (see INDA: Brace For India's Post-Election Upside ). Top of mind is last month's general election, which saw Prime Minister Narendra Modi and his ruling National Democratic Alliance (or "NDA") coalition return to power (expected), albeit with a smaller majority than before (unexpected). Still, the broader point is that the "Modi 3.0" Cabinet will feature the same faces as "Modi 2.0" – a decidedly market-friendly outcome, as the post-election rally showed....
INDA: Keep Calm And Stay Long India