BJP win in Gujarat positive but euphoria might be short-lived: Chhaochharia

Interview with Gautam Chhaochharia, Head of India Research, UBS Securities

Exit polls for the recently held elections in Gujarat and Himachal Pradesh have predicted a victory for the Narendra Modi–led Bharatiya Janata Party (BJP) in both states. GAUTAM CHHAOCHHARIA, head of India research at UBS Securities, tells Puneet Wadhwa the markets’ focus will be back on corporate earnings, reforms and global events. Edited excerpts:

How are you interpreting the exit polls and what are its likely implications?

We were already expecting the BJP to win. That said, there were some worries over the past couple of weeks, given the opinion polls. That led to some investors selling off. The exit polls are