Exit Polls: Top D-Street voices echo continuation of policy reform in Modi 3.0
exit polls are flashing a clear advantage to the Bharatiya Janata Party (BJP) led NDA faction, top voices on Dalal Street see a continuation of reform policies in Prime Minister Narendra Modi's third term. They expect the government's focus on infrastructure, defence, railways and other sectors to continue.
According to the poll-of-polls, the National Democratic Alliance (NDA) is projected to secure over 350 seats out of the 542 contested, spanning seven phases over 48 days.
While exit polls are estimates, the counting of votes will take place on June 4, Tuesday.
Here's what experts said:
CLSA
Even as the exit polls give BJP a poll position, the final outcome is yet to come. Hong Kong brokerage CLSA said that a favourable outcome would raise investor confidence in India’s economic growth. This could encourage investors to play this growth beyond Modi stocks, which are direct policy plays.
It has gone ahead to identify 54 stocks in the 183 stocks strong F&O basket arguing that these will be part of the India growth story. These stocks have been perceived as direct beneficiaries of PM Modi’s policies and half of these are PSUs.
CLSA's analysis reveals 90% of Modi stocks have beaten the Nifty in the election-focused rally over the past six months versus only 42% of the other companies outperforming. L&T, NTPC, NHPC, PFC, ONGC, IGL, MAHGL, Bharti Airtel, Indus Towers and Reliance are the preferred Modi stocks for CLSA analysts.
Nomura
While it is apparent now that BJP/NDA has indeed secured a simple majority,
