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May 17, 2009

Investors rejoice the end of Third, Fourth and other Affronts

The 2009 election results, which have largely crushed the pipedreams of the left parties and other blackmail-focused riff-raffs at the national level, has delighted stock market investors which is evident from CNBC-TV18's two part video interview with Rakesh Jhunjhunwala of Rare Enterprises, Manish Chokani of Enam and Samir Arora of Helios.
Jhunjhunwala: Let us look at the positives one from the market point of view, one from the long-term point of view. I think the biggest positive is Indian democracy is now maturing. I heard MJ Akbar say on TV channel that people are voting for governance -Muslims are not voting for Muslims, Hindus are not voting for Hindus, people are voting for governance. Where you get good governance you are getting votes.

...Arora: I think this seriously is a big thing for India to imagine to not see Mr. Karat (General Secretary of the CPI-M) on TV that itself is worth 500 points...But in general this change in outlook will be bigger.

Chokhani:If I am a fund manager who has to allocate money over here, I want relative out performance and these are typically the four sectors which will outperform – banks, infrastructure, telecom, and real estate in my view and in our house view.


Arun Natarajan is the Founder & CEO of Venture Intelligence, the leading provider of data and analysis on private equity, venture capital and M&A deals in India. View free samples of Venture Intelligence newsletters and reports. Email the author at arun@ventureintelligence.in