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We will now begin a new journey to build a new India, says Narendra Modi

272/543
L :0
W :353
L :0
W :92
NDA :353
UPA : 92
LOK SABHA ELECTION RESULTS 2019
Total Constituencies
543
Voter Turnout
67.11%
NDA : 353
2014 : 354 Seats
BJP
303
+
SS
18
+
Other
32
UPA : 92
2014 : 66 Seats
INC
52
+
DMK
23
+
Other
17
OTH : 97
2014 : 107 Seats
TMC
22
+
YSRCP
22
+
Other
53
VIDEOS
Business

Pre-election stock market rally on Narendra Modi election 2019 win, says Dipan Mehta

Updated : April 09, 2019 02:39 PM IST

Stock market guru and Elixir Equities director, Dipan Mehta on Friday said the pre-election stock market rally is indicating a clear majority for Narendra Modi-led BJP in Lok Sabha elections.

"After waiting in the sidelines for many months, domestic investors, high net worth individuals and mutual funds are gradually putting money to the market on the broad belief that we will have political stability eventually post May 23. Instead of waiting to buy at higher levels, some investors are just getting in a bit early at this point in time," Mehta said.

"Eventually, the auto industry will start recovering and we will see decent double-digit growth rate pent-up demand as and when the auto companies launch new models. Since you have seen such massive correction in auto and auto-ancillaries, there is no point in booking the losses," he added.

Talking about Reliance Industries Ltd (RIL), he said, "I would like to be a bit cautious at this point of time. RIL is moving up on the back of valuations coming from Reliance Jio and Retail. But there is no real plan underway as to how this value is going to be unlocked. If existing minority shareholders of RIL is going to get free shares on Reliance Jio and Retail as they got in RCom earlier, then it is a great value unlocking proposition for minority shareholders. But if it is a pure play IPO, where RIL remains the holding company and public at large subscribe to those shares of Reliance Jio or Retail, then that is not going to such a great value unlocking opportunity," Mehta said.

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Disclosure: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.
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