NEW DELHI: If Congress-led INDIA alliance comes to power, it will lead to de-rating in markets and in specific sectors such as defence, capital goods, tourism, PSU’s (including banks), drones, AMC, wires and cables, plastic pipes and EMS, said brokerage firm Prabhudas Lilladher in its ‘India Strategy Report – Mandate 2024, Brace of Volatility’ report on Friday.
The report comes as India completes the 4th phase of what it calls the most ‘hotly contested Lok Sabha elections in its history’. It added that the narrative of NDA falling short of a majority or INDIA alliance coming to power is raising their head, at least in social media and global press. Most brokerages and opinion polls, however, still feel a win for the Prime Minister Narendra Modi-led BJP.
